Tandem Stock Appreciation Right definition

Tandem Stock Appreciation Right means the right to surrender to the Company all (or a portion) of a Stock Option in exchange for an amount in cash and/or stock equal to the difference between (i) the Fair Market Value on the date such Stock Option (or such portion thereof) is surrendered, of the Common Stock covered by such Stock Option (or such portion thereof), and (ii) the aggregate exercise price of such Stock Option (or such portion thereof).

Tandem Stock Appreciation Right or "TANDEM RIGHT" means a right granted pursuant to subsection 8(b)(1) of the Plan.

Tandem Stock Appreciation Right means a Stock Appreciation Right granted in connection with a related Option, the exercise of some or all of which results in termination of the entitlement to purchase some or all of the Shares under the related Option, all as set forth in Article XIV.

Examples of Tandem Stock Appreciation Right in a sentence

• A Tandem Stock Appreciation Right may be exercised by the Participant by surrendering the applicable portion of the Reference Stock Option.

• Any Tandem Stock Appreciation Right related to an Option may be exercised only when the related Option would be exercisable and the Fair Market Value of the Shares subject to the related Option exceeds the exercise price at which Shares can be acquired pursuant to the Option.

• In addition, if a Tandem Stock Appreciation Right exists with respect to less than the full number of Shares covered by a related Option, then an exercise or termination of such Option shall not reduce the number of Shares to which the Tandem Stock Appreciation Right applies until the number of Shares then exercisable under such Option equals the number of Shares to which the Tandem Stock Appreciation Right applies.

• Any Option related to a Tandem Stock Appreciation Right shall no longer be exercisable to the extent the Tandem Stock Appreciation Right has been exercised, and any Tandem Stock Appreciation Right shall no longer be exercisable to the extent the related Option has been exercised.

• Upon the exercise of a Tandem Stock Appreciation Right, the Reference Stock Option or part thereof to which such Stock Appreciation Right is related shall be deemed to have been exercised for the purpose of the limitation set forth in Article IV of the Plan on the number of shares of Common Stock to be issued under the Plan.

More Definitions of Tandem Stock Appreciation Right

Tandem Stock Appreciation Right means a Stock Appreciation Right granted pursuant to Section 6 that is granted in tandem with an Option or any similar right granted under any other plan of the Company.

Tandem Stock Appreciation Right means a Stock Appreciation Right granted in connection with an Award which is a Stock Option.

Tandem Stock Appreciation Right or "TANDEM RIGHT" means a right granted under subsection 8(b)(i) of the Plan.

Tandem Stock Appreciation Right means a Stock Appreciation Right granted in tandem with an Option.

Tandem Stock Appreciation Right means any Stock Appreciation Right granted pursuant to Article VI of the Plan in conjunction with all or part of any Stock Option granted under the Plan pursuant to a Stock Option agreement which states that the Participant may, in lieu of exercising the Stock Option, surrender the Stock Option and receive shares of Stock equal in value to the Stock Appreciation Right.

Tandem Stock Appreciation Right means a Stock Appreciation Right granted pursuant to Section 8 of this Plan that is granted in tandem with an Option or any similar right granted under any other Plan of the Company such that the exercise of one results in the cancellation of the other.

Tandem Stock Appreciation Right means a Right described in Part III, Section 2.