Common use of Stock Options and SARs Clause in Contracts

Stock Options and SARs. Immediately prior to the Change in Control, all awards of stock options and stock appreciation rights (“SARs”) previously granted to the Executive shall become fully vested and exercisable. The phrase “immediately prior to the Change in Control” shall be understood to mean sufficiently in advance of a Change in Control to permit the Executive to take all steps reasonably necessary to exercise all options and SARs and to deal with the shares of stock underlying the awards of stock options and SARs so that such shares may be treated in the same manner as the shares of stock of other shareholders in connection with the Change in Control.

Stock Options and SARs. Immediately prior to the Change in Control, all awards of stock options and stock appreciation rights (“"SARs”") previously granted to the Executive shall become fully vested and exercisable. The phrase “"immediately prior to the Change in Control” " shall be understood to mean sufficiently in advance of a Change in Control to permit the Executive to take all steps reasonably necessary to exercise all options and SARs and to deal with the shares of stock underlying the awards of stock options and SARs so that such shares may be treated in the same manner as the shares of stock of other shareholders in connection with the Change in Control.