Common use of Exercise of Stock Appreciation Right Clause in Contracts

Exercise of Stock Appreciation Right. Each election to exercise this Stock Appreciation Right shall be in writing, signed by the Participant and received by the Human Resources Department, ▇▇▇▇▇▇ ▇▇▇▇ Corporation, ▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇, ▇▇ ▇▇▇▇▇, or at such other address as the Company may hereafter designate, no later than the expiration date set forth in Section 1 above (the “Expiration Date”). The notice shall state the election to exercise the Stock Appreciation Right and the number of Shares in respect of which the Stock Appreciation Right is being exercised. This Stock Appreciation Right shall be deemed to be exercised upon receipt by the Company of such fully executed notice. a. Upon exercising all or a portion of this Stock Appreciation Right, the Participant shall become entitled to receive from the Company, for each Share exercised, an amount equal to (i) the Fair Market Value of ▇▇▇▇▇▇ ▇▇▇▇ Corporation Common Stock as of the date of such exercise, determined in accordance with Section 2.18 of the Plan, minus (ii) the Fair Market Value of ▇▇▇▇▇▇ ▇▇▇▇ Corporation Common Stock on the Grant Date. b. The Company’s obligation arising upon the exercise of this Stock Appreciation Right shall be paid in cash as soon as administratively practicable after the exercise. Such cash payment may be reduced in accordance with Section 6 below, in the Company’s sole discretion, to fulfill any or all income tax withholding requirements (including federal, state and local taxes) with respect to the exercised portion of the Stock Appreciation Right.

Exercise of Stock Appreciation Right. Each election to exercise this Stock Appreciation Right shall be in writing, signed by the Participant and received by the Human Resources Department, ▇▇▇▇▇▇ ▇▇▇▇ Corporation, ▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇, ▇▇ ▇▇▇▇▇, or at such other address as the Company may hereafter designate, no later than the expiration date set forth in Section 1 above (the “Expiration Date”). The notice shall state the election to exercise the Stock Appreciation Right and the number of Shares in respect of which the Stock Appreciation Right is being exercised. This Stock Appreciation Right shall be deemed to be exercised upon receipt by the Company of such fully executed notice. a. Upon exercising all or a portion of this Stock Appreciation Right, the Participant shall become entitled to receive from the Company, for each Share exercised, an amount equal to (i) the Fair Market Value of ▇▇▇▇▇▇ ▇▇▇▇ Corporation Common Stock as of the date of such exercise, determined in accordance with Section 2.18 2.20 of the Plan, minus (ii) the Fair Market Value of ▇▇▇▇▇▇ ▇▇▇▇ Corporation Common Stock on the Grant Date. b. The Company’s obligation arising upon the exercise of this Stock Appreciation Right shall be paid in cash as soon as administratively practicable after the exercise. Such cash payment may be reduced in accordance with Section 6 below, in the Company’s sole discretion, to fulfill any or all income tax withholding requirements (including federal, state and local taxes) with respect to the exercised portion of the Stock Appreciation Right.