Examples of Performance SAR in a sentence
Prior to exercise of any SAR earned upon the satisfaction of performance goals pursuant to a Performance SAR Agreement, the Committee shall determine the extent to which such SAR has been earned.
If the SAR is being earned upon the satisfaction of performance goals pursuant to a Performance SAR Agreement, then the Committee will: (a) determine the nature, length and starting date of any Performance Period for each SAR; (b) select from among the Performance Factors to be used to measure the performance, if any; and (c) determine the number of Shares deemed subject to the SAR.
Prior to settlement of any SAR earned upon the satisfaction of performance goals pursuant to a Performance SAR Agreement, the Committee shall determine the extent to which such SAR has been earned.
Notwithstanding the foregoing, any grant of an Option, Performance, SAR or Restricted Stock Award to a Reporting Person must be made by the Board or a Committee comprised solely of two or more Outside Directors.
In January 2008, the Company approved an issuance of 565,472 Special Performance SARs. At the time of issuance, the notional value was $10.00 per Special Performance SAR.
During his lifetime, the Performance SAR shall be exercisable only by the Executive or his legal representative.
Upon any adjustment of the number of Units pursuant to this Performance SAR or the Base Value, the Company within twenty calendar days after it learns of the event requiring such adjustment shall give written notice to the Executive setting forth the adjusted number of Units and Base Value and setting forth in reasonable detail the method of calculation and the facts upon which such adjustment was made, which certificate shall be presumptive evidence of the correctness of the matter set forth therein.
Anything in this Agreement to the contrary notwithstanding, any gains on the exercise of the Performance SAR as realized by the Executive when he is a Named Executive Officer of the Company (as defined in the regulations promulgated under Internal Revenue Code Section 162(m)) shall be deferred as provided in the following sentence.
The Performance SAR shall not be transferable by the Executive other than by will or the laws of descent and distribution.
The Company shall have the power and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy Federal, state and local taxes, domestic or foreign, required by law or regulation to be withheld with respect to any taxable event arising as a result of the Plan attributable to the Performance SAR.