Common use of When Exercisable Clause in Contracts

When Exercisable. This SAR becomes exercisable at the rate of one-third of the total shares on each of February 15, 2015, 2016 and 2017. This SAR remains exercisable through February 14, 2022, unless SAR Holder is no longer employed by the Company, or such other event as specified in paragraph 3 occurs, in which case the SARs are exercisable only if permitted by, and in accordance with, the provisions of paragraph 3 below.

When Exercisable. This SAR becomes exercisable at the rate of one-third 33 1/3% of the total shares on each of February 15September 29, 20152008, 2016 2009 and 20172010. This SAR remains exercisable through February 14September 28, 20222015, unless SAR Holder is no longer employed by the Company, or such other event as specified in paragraph 3 occurs, in which case the SARs are SAR is exercisable only if permitted by, and in accordance with, the provisions of paragraph 3 below.

When Exercisable. This SAR becomes exercisable at the rate of one-third of the total shares on each of February 15September 25, 20152011, 2016 2012 and 20172013. This SAR remains exercisable through February 14September 24, 20222018, unless SAR Holder is no longer employed by the Company, or such other event as specified in paragraph 3 occurs, in which case the SARs are exercisable only if permitted by, and in accordance with, the provisions of paragraph 3 below.