Stock Appreciation Right. Upon an exercise of this Option, Employee (or the person exercising this Option in the event of Employee’s death) may request the Company to compute an amount (the “Appreciation Amount”) equal to the excess of the aggregate Fair Market Value of any number of the shares of Stock with respect to which this Option is exercised over the aggregate purchase price of such number of shares. Moreover, Employee (or such person) may elect (subject to the consent or disapproval of the Committee of any election to receive cash) to have the Company distribute to Employee (or such person), in lieu of Employee’s purchasing such number of shares, an amount of cash and/or a whole number of shares of Stock (in any combination thereof as Employee or such person may elect) in Fair Market Value equal to the Appreciation Amount. Notwithstanding anything to the contrary herein, if Employee is then an officer, director or affiliate of the Company who is subject to section 16 of the Securities Exchange Act of 1934, as amended (the “Securities Exchange Act”), this Option may not be exercised prior to the expiration of six months from the date of grant hereof (except in the event of the death or disability of Employee prior to the expiration of such six month period); thereafter, any exercise of this Option or election pursuant to this Paragraph 4 wherein Employee would receive any portion of the Appreciation Amount in cash (other than cash in lieu of a fractional share) may be made only during a period beginning on the third business day and ending on the twelfth business day following the date of release by the Company for publication of quarterly and annual summary statements of sales and earnings. Should Employee elect pursuant to this Paragraph 4 to receive the Appreciation Amount solely in shares of Stock, the number of shares of Stock distributable to Employee shall be the highest whole number of shares whose value does not exceed the Appreciation Amount, and any fractional share shall be paid in cash.
Stock Appreciation Right. An Employee Award may be in the form of a Stock Appreciation Right. The Xxxxx Xxxxx for a Stock Appreciation Right shall not be less than the Fair Market Value of the Common Stock on the Grant Date. Any Stock Appreciation Right which is not a Performance Award shall have a minimum Restriction Period of three years from the Grant Date. However, (i) the Committee (or its designee) may provide for earlier vesting following a change of control or other specified events involving the Corporation or upon an Employee’s termination of employment by reason of death, Disability or Retirement; and (ii) vesting of a Stock Appreciation Right may occur incrementally over the three-year minimum Restricted Period, provided no portion of any Stock Appreciation Right Award will have a Restriction Period of less than one year. The term of a Stock Appreciation Right shall not exceed ten years from the Grant Date.
Stock Appreciation Right. A Director Award may be in the form of a Stock Appreciation Right. The Xxxxx Xxxxx for a Stock Appreciation Right shall not be less than the Fair Market Value of the Common Stock on the Grant Date. The term of a Stock Appreciation Right shall not exceed ten years from the Grant Date.
Stock Appreciation Right. The Committee may grant a right to receive the excess of the Fair Market Value of a Share on the date the stock appreciation right is exercised over the Fair Market Value of a Share on the date the stock appreciation right was granted (the “Spread”). The Spread with respect to a stock appreciation right may be payable in cash, Shares with a total Fair Market Value equal to the Spread or a combination of these two. With respect to stock appreciation rights that are subject to Section 16 of the Exchange Act, however, the Committee shall retain sole discretion (i) to determine the form in which payment of the stock appreciation right will be made (cash, Shares or any combination thereof) or (ii) to approve an election by a Recipient to receive cash in full or partial settlement of stock appreciation rights. Each Award Agreement for stock appreciation rights shall provide that stock appreciation rights under the Plan may not be exercised earlier than six (6) months from the date of grant. The terms of the Award Agreements granting stock appreciation rights need not be the same with respect to each Recipient. A stock appreciation right shall be subject to adjustment as provided in Section 14 of the Plan.
Stock Appreciation Right. An Award in the form of a Right to receive the excess of the Fair Market Value of a Share on the date the Right is exercised over the Fair Market Value of a Share on the date the Right was granted.
Stock Appreciation Right. Optionee is hereby granted a limited stock appreciation right exercisable upon the following terms and conditions:
Stock Appreciation Right. GRANT OF LIMITED SAR Subject to the limitations and other terms and conditions set forth in this Agreement and the Plan, the Committee grants to the Grantee as of October 1, 1997 a Limited SAR with respect to all Shares subject to the related Non-qualified Stock Option granted under Section I of this Agreement. Such Limited SAR shall be exercisable only in the event of a Change of Control and only if the Grantee is subject, in the opinion of counsel to RSI, to Section 16(b) of the 1934 Act with respect to RSI at the time of the Change of Control. The Limited SAR is the right to receive an amount (the "Limited SAR Spread") equal to the product computed by multiplying (i) the Price upon a Change of Control specified in Section I above by (ii) the number of Shares with respect to which such Limited SAR is being exercised. LIMITATIONS ON EXERCISE OF LIMITED SAR Subject to the limitations and other terms and conditions set forth in this Agreement and the Plan, the Limited SAR shall be exercisable only if and to the extent that the related Non-qualified Stock Option is exercisable, but no later than September 30, 2007, the expiration date of the related Non-qualified Stock Option. The Limited SAR may be exercised only during the sixty day period commencing after the occurrence of a Change of Control.
Stock Appreciation Right. Upon an exercise of this Option, Employee (or the person permitted to exercise this Option in the event of Employee's death), in the notice given to the Company exercising this Option, may request that the Company distribute to him, in lieu of any number of the shares of Stock with respect to which this Option is exercised, an amount (the "Appreciation Amount") equal to the excess of the aggregate fair market value of such number of shares over the aggregate option price of such shares. Within 30 days after such notice is given, the committee appointed by the Board of Directors of the Company to administer the Plan (the "Committee") shall give notice to the Employee (or such person) either approving or disapproving such request. If such request is disapproved, the notice given by Employee (or such person) exercising this Option shall be treated as if it had never been given. If such request is approved, the Company shall distribute to Employee (or such person) an amount of cash and/or a number of shares of Stock equal in value in the aggregate to the Appreciation Amount; the composition of the
Stock Appreciation Right. The term “Stock Appreciation Right” or “SAR” shall mean the grant, pursuant to Section 4, of a right to receive a payment from the Company in cash, equal to the excess of the Fair Market Value of one or more shares of Stock over the xxxxx xxxxx of such shares under the terms of such Stock Appreciation Right.
