Exercisability of Sar Clause Samples

Exercisability of Sar. (a) Except to the extent the SAR is permitted to be transferred to a person set forth in Section 9(b) of this Award Agreement, during the Grantee's lifetime, this SAR may be exercised only by the Grantee. This SAR, except as specifically provided elsewhere under the terms of the Plan, shall become exercisable as follows: Years Elapsed from Grant Date Percentage of SAR Exercisable ----------------------------- ----------------------------- 1 Year 20% 2 Years 40% 3 Years 60% 4 Years 80% 5 Or More Years 100% For purposes of this Section 3, a Year shall mean a period of 365 days (or 366 days in the event of a leap year). (b) In the event of the Grantee's death or Disability while the Grantee is employed, the SAR shall become fully exercisable. If the Grantee dies or becomes Disabled following the Grantee's Termination of Affiliation, the exercisability of the SAR shall not accelerate due to such death or Disability and shall be exercisable only to the extent it was exercisable on the date of the Grantee's Termination of Affiliation.
View SourceView Similar (2)
Exercisability of Sar. (a) The SAR shall be exercisable during its term in accordance with the Vesting Schedule set forth in the Notice of Grant and the applicable provisions of the Plan and this Agreement. (b) Notwithstanding the above, this SAR shall not be exercisable until the Participant (i) repays in full any and all loans made to him by the Corporation (or by any Subsidiary or Affiliate of the Corporation), unless the Participant has the prior written consent of the Committee to exercise the SAR as provided in Article 4 of the Plan, and (ii) makes arrangements, subject to the Corporation’s approval, for the payment of the Participant’s minimum tax withholding obligations (pursuant to Article 13(d) of the Plan) required upon the exercise of this SAR. (c) The SAR may be exercised pursuant to the provisions of this Section 3 as set forth in Sections 9 and 10 hereof.
View Source
Exercisability of Sar. (a) During the Grantee's lifetime, this SAR may be exercised only by the Grantee. This SAR, except as specifically provided elsewhere under the terms of the Plan, shall become exercisable as follows: 1 Year 20% 2 Years 40% 3 Years 60% 4 Years 80% 5 Or More Years 100% For purposes of this Section 3, a Year shall mean a period of 365 days (or 366 days in the event of a leap year). (b) In the event of the Grantee's death or Disability while the Grantee is employed on a "Full-Time Basis" (as defined below) by the Company, the SAR shall become fully exercisable. For purposes of this Agreement, "Full-Time Basis" means the Grantee is regularly scheduled to work 30 or more hours per week. For purposes of this Agreement, except where the Board otherwise determines, a Grantee who, immediately before taking a Company-approved leave of absence, was employed on a Full-Time Basis will be considered employed on a Full-Time Basis during the period of such Company-approved leave. If the Grantee dies or becomes Disabled following the Grantee's Termination of Affiliation, or following the Grantee ceasing to be employed on a Full-Time Basis, the exercisability of the SAR shall not accelerate due to such death or Disability and shall be exercisable only to the extent it was exercisable on the date of the Grantee's Termination of Affiliation or the date the Grantee ceased to be employed on a Full-Time Basis.
View Source
Exercisability of Sar. The SAR shall become exercisable on the following dates, if the Grantee is employed by, or providing service to, the Employer (as defined in the Plan) on the applicable date. For this purpose, the term “Shares” refers to the number of shares underlying that portion of the SAR that vests in the manner described under Vest Type and Full Vest Date. The term “Vest Type” describes how those shares will vest before the Full Vest Date. For example, if Vest Type is “monthly”, those shares will vest on a pro rata basis on each monthly anniversary of the Date of Grant. The term “Full Vest Date” is the date on which all of the shares underlying the SAR set forth in the corresponding “Shares” column will be fully vested.
View Source
Exercisability of Sar 
View SourceView Similar (5)

Related to Exercisability of Sar

  • Exercisability of Option Unless otherwise provided in this Agreement or the Plan, this Option shall entitle the Participant to purchase, in whole at any time or in part from time to time, to the extent the Option is vested in accordance with the vesting schedule herein, the Shares subject to this Option, and each such right of purchase shall be cumulative and shall continue, unless sooner exercised or terminated as herein provided, during the remaining Option Period.

  • Vesting and Exercisability of Option The Option shall vest, and may be exercised, with respect to the Shares as set forth in the Optionee Statement attached hereto and made a part hereof, subject to earlier termination of the Option as provided in Sections 1.4 and 6 hereof or in the Plan. The right to purchase the Shares as they become vested shall be cumulative and shall continue during the Exercise Term unless sooner terminated as provided herein.

  • Exercisability This option shall be exercisable as to: 400 immediate This option shall remain exercisable as to all vested shares until January 1,2014 (but not later than ten (10) years from the date this option is granted) unless this option has expired or terminated earlier in accordance with the provisions hereof or in the Plan. Subject to paragraphs 4 and 5, shares as to which this option becomes exercisable pursuant to the foregoing provision may be purchased at any time prior to expiration of this option.

  • Acceleration of Exercisability In the event of the merger or consolidation of the Company with or into another corporation, or the acquisition by another corporation or person of all or substantially all of the Company's assets or eighty percent (80%) or more of the Company's then outstanding voting stock, or the liquidation or dissolution of the Company, the Board may, in its absolute discretion and upon such terms and conditions as it deems appropriate, provide by resolution, adopted prior to such event and incorporated in the notice referred to in Section 3.3(vi), that at some time prior to the effective date of such event this Option shall be exercisable as to all the shares covered hereby, notwithstanding that this Option may not yet have become fully exercisable under Section 3.1(a); provided, however, that this acceleration of exercisability shall not take place if: (i) This Option becomes unexercisable under Section 3.3 prior to said effective date; or (ii) In connection with such an event, provision is made for an assumption of this Option or a substitution therefor of a new option by an employer corporation or a parent or subsidiary of such corporation. The Board may make such determinations and adopt such rules and conditions as it, in its absolute discretion, deems appropriate in connection with such acceleration of exercisability, including, but not by way of limitation, provisions to ensure that any such acceleration and resulting exercise shall be conditioned upon the consummation of the contemplated corporate transaction, and determinations regarding whether provisions for assumption or substitution have been made as defined in clause (ii) above.

  • Duration of Exercisability The installments provided for in Section 3.1 are cumulative. Each such installment which becomes exercisable pursuant to Section 3.1 shall remain exercisable until it becomes unexercisable under Section 3.3.