Time for Exercise. (a) Except as set forth in Paragraph 2(c) or Section 13 of the Plan, the Award (including both Vested SARs and Unvested SARs) shall not be exercisable on or before the dates specified in this Paragraph 3. (b) Subject to Participant’s continued service as a member of the Board, all then Vested SARs shall become exercisable on the second anniversary of the final Vesting Date. (c) Notwithstanding anything herein to the contrary, in the event Participant ceases to be a member of the Board for any reason prior to the date specified in Paragraph 3(b), all then Vested SARs shall become exercisable on the date of such cessation of service.
Appears in 3 contracts
Sources: Independent Directors Stock Appreciation Right Agreement (Herbalife Ltd.), Independent Directors Stock Appreciation Right Agreement (Herbalife Ltd.), Independent Directors Stock Appreciation Right Agreement (Herbalife Ltd.)