Common use of Grant of Stock Appreciation Right Clause in Contracts

Grant of Stock Appreciation Right. The Corporation hereby grants to Participant, as of the date hereof, a stock appreciation right (the “SAR”) with respect to ______(______) shares of Stock (the “Covered Shares”), which represents the right to receive that number of shares of Stock determined by dividing (i) the total number of shares of Stock subject to the SAR being exercised by the Participant, multiplied by the amount by which the Fair Market Value of a share of Stock on the day the right is exercised exceeds the Fair Market Value of a share of Stock on the date of grant of the SAR (such amount being hereinafter referred to as the “Spread”), by (ii) the Fair Market Value of a share of Stock on the exercise date. This SAR is in all respects limited and conditioned as hereinafter provided and is subject to the terms and conditions of the Plan.

Grant of Stock Appreciation Right. The Corporation hereby grants to Participant, as of the date hereof, a stock appreciation right (the “SAR”) with respect to ____________ (______) shares of Stock (the “Covered Shares”), which represents the right to receive that number of shares of Stock determined by dividing (i) the total number of shares of Stock subject to the SAR being exercised by the Participant, multiplied by the amount by which the Fair Market Value of a share of Stock on the day the right is exercised exceeds the Fair Market Value of a share of Stock on the date of grant of the SAR (such amount being hereinafter referred to as the “Spread”), by (ii) the Fair Market Value of a share of Stock on the exercise date. This SAR is in all respects limited and conditioned as hereinafter provided and is subject to the terms and conditions of the Plan.

Grant of Stock Appreciation Right. The Corporation hereby grants to Participant, as of the date hereof, a stock appreciation right (the “SAR”) with respect to ______(______( ) shares of Stock (the “Covered Shares”), which represents the right to receive that number of shares of Stock determined by dividing (i) the total number of shares of Stock subject to the SAR being exercised by the Participant, multiplied by the amount by which the Fair Market Value of a share of Stock on the day the right is exercised exceeds the Fair Market Value of a share of Stock on the date of grant of the SAR (such amount being hereinafter referred to as the “Spread”), by (ii) the Fair Market Value of a share of Stock on the exercise date. This SAR is in all respects limited and conditioned as hereinafter provided and is subject to the terms and conditions of the Plan.