FREESTANDING STOCK APPRECIATION RIGHT AGREEMENT (Settled in Cash)Stock Appreciation Right Agreement • November 3rd, 2006 • United Retail Group Inc/De • Retail-women's clothing stores
We are pleased to inform you that, as a key associate of United Retail Group, Inc. (herein called the “Company”) or one of its subsidiaries, you have been granted a stock appreciation right (herein called a “right”) under the Company’s 2006 Equity-Based Compensation and Performance Incentive Plan (herein called the “Plan”). The right gives you the opportunity to receive a lump sum cash payment at the time of exercise of the right, equal to the amount by which the market value of all shares in respect of which the right is exercised exceeds the grant price set forth above multiplied by the number of shares in respect of which the right is exercised, subject to your acceptance of the award as provided in Section 1 below and the terms and conditions that follow in this letter agreement or are contained in the Plan. The date of the grant evidenced by this letter agreement (herein called the date of grant) and the date the right expires are set forth above. A copy of the Plan and a Notice o
