Settlement of SAR. Upon exercise of all or a specified portion of the SAR, the Recipient shall be entitled to receive from the Company shares of Common Stock with an aggregate Fair Market Value on the date of exercise of the SAR equal to the amount determined by multiplying:
(a) 100 percent of the amount (if any) by which the Fair Market Value of a share of Common Stock on the date of exercise of the SAR exceeds the Exercise Price, by
(b) the number of shares of Common Stock with respect to which the SAR shall have been exercised.
Settlement of SAR. Upon exercise of the SAR, in whole or in part, the Company shall:
(1) provide for the registration in book-entry form for the Grantee’s benefit of the Gain Shares (rounded down to the nearest whole number, and which may be reduced by any Gain Shares required to be withheld or sold on behalf of the Grantee to satisfy tax withholding requirements), or
(2) deliver to the Grantee a stock certificate representing the Gain Shares (rounded down to the nearest whole number, and which may be reduced by any Gain Shares required to be withheld or sold on behalf of the Grantee to satisfy tax withholding requirements).
Settlement of SAR. Upon exercise of the SAR for all or a portion of the SAR Shares after the SAR has become exercisable, Corporation will calculate the SAR Spread, the Tax Offset Amount, and the Net SAR Value and will convert the Net SAR Value into a whole number of SAR Settlement Shares based on the Fair Market Value of a Share on the Exercise Date, with any remaining portion of the Net SAR Value (representing the value of a fractional Share) credited as additional federal income tax withholding for the Participant’s benefit. Within 10 days following the Exercise Date, Corporation will cause a stock certificate for the SAR Settlement Shares to be delivered to Participant.
Settlement of SAR. Settlement of the SAR Payment Amount shall be made by delivering a cash payment to the Participant equal to the SAR Payment Amount. Such payment shall be made within 30 days following an SAR Exercise Election, and shall be subject to any applicable tax withholding obligations. The Corporation may direct that any of its Subsidiaries (a “Designated Subsidiary”) deliver the SAR Payment Amount, subject to any applicable tax withholding obligations, to the Participant and, in such case, such payment shall be treated as having been made directly by such Designated Subsidiary to the Participant. If this SAR Award remains outstanding on the Expiration Date and any portion of this SAR Award has vested but not been exercised on the Expiration Date, the entire remaining vested but unexercised portion of this SAR Award shall be deemed to have been exercised as of the Expiration Date and such automatic exercise shall be treated as an SAR Exercise Election.
Settlement of SAR. Upon exercise of all or a specified portion of a SAR, the Participant (or such other person entitled to exercise the SAR pursuant to this Award Agreement and the Plan) shall be entitled to receive from the Company, cash in an amount equal to the amount determined by multiplying:
i. 100% percent of the amount (if any) by which the Fair Market Value on the date of exercise of the SAR exceeds the Xxxxx Xxxxx, by
ii. The number of Shares with respect to which the SAR shall have been exercised.
Settlement of SAR. Upon exercise of the SAR, in whole or in part, the Company shall:
(1) provide for the registration in book-entry form for the Grantee’s benefit of the Gain Shares (rounded down to the nearest whole number), or
(2) deliver to the Grantee a stock certificate representing the Gain Shares (rounded down to the nearest whole number).
Settlement of SAR. Upon exercise of all or a specified portion of the vested SAR, the Grantee (or such other person entitled to exercise the vested SAR pursuant to this Agreement and the Plan) shall be entitled to receive from the Company Shares with an aggregate Fair Market Value on the date of exercise of the vested SAR equal to the amount determined by multiplying:
(a) 100 percent of the amount (if any) by which the Fair Market Value of a share of Common Stock on the date of exercise of the vested SAR exceeds the Exercise Price, by
(b) the number of Shares with respect to which the vested SAR shall have been exercised. The Company may make delivery of Shares by either delivering one or more certificates representing such Shares to the Grantee (or his beneficiary in the event of death), registered in the name of the Grantee (and any joint name, if so directed by the Grantee), or by depositing such Shares into a stock brokerage account maintained for the Grantee (or of which the Grantee is a joint owner, with the consent of the Grantee). If the Company determines to make a deposit of Shares into such an account, the Company may settle any fractional Share by means of such deposit. In other circumstances or if so determined by the Company, the Company shall instead pay cash in lieu of any fractional Share, on such basis as the Administrator shall determine. In no event will the Company issue fractional Shares.
Settlement of SAR. The following provision supplements Section 2.3 of the Award Agreement: The SAR Amount due to Participant upon exercise of the SAR shall be paid by the Employer through local payroll. There are no country-specific terms and conditions.
Settlement of SAR. Upon exercise of all or a specified portion of the SAR, Participant (or such other person entitled to exercise the SAR pursuant to this Agreement and the Plan) shall be entitled to receive from the Company cash in the amount (the “SAR Amount”) determined by multiplying (a) the amount (if any) by which the Fair Market Value per Share on the date of exercise of the SAR exceeds the exercise price per Share of the SAR, by (b) the number of Shares with respect to which the SAR is exercised. The SAR Amount shall be paid within thirty (30) days following the date of exercise.
Settlement of SAR. The following provision supplements Section 2.3 of the Award Agreement:
