Settlement of SARs. Payment in respect of the SARs that have been exercised shall be made to the Participant as soon as administratively practicable following the Exercise Date. The amount of payment will be equal to the excess of the Fair Market Value of the Shares on the Exercise Date over the Xxxxx Xxxxx multiplied by the number of SARs being exercised (the “SAR Payment Amount”). The SAR Payment Amount shall be paid in Shares. The number of Shares to be delivered will be equal to SAR Payment Amount divided by the Fair Market Value of the Shares on the Exercise Date rounded up to the nearest whole Share.
Appears in 4 contracts
Samples: Sars Award Agreement (Federal Agricultural Mortgage Corp), Sars Award Agreement (Federal Agricultural Mortgage Corp), Sars Award Agreement (Federal Agricultural Mortgage Corp)
