Common use of Termination of Stock Appreciation Right Clause in Contracts

Termination of Stock Appreciation Right. Any portion of the SAR, that is not vested and exercisable at the date of Executive's termination of employment, and that does not become exercisable pursuant to Section 2, shall terminate as of the Employee’s termination date. In the event the Executive’s employment is (i) terminated by the Company with Cause or (ii) terminated by the Executive without Good Reason, all SARs hereunder shall terminate and thereafter be void. Notwithstanding anything in this Agreement to the contrary, in no event may the SAR be exercised after the expiration date of the SAR as set forth in Section 4.