At the discretion of the Administrator, the payment upon Stock Appreciation Right exercise may be in cash, in Shares of equivalent value, or in some combination thereof.
AtNotwithstanding the discretionforegoing, the Administrator may determine to settle the exercise of the Administrator, the payment upona Stock Appreciation Right exercise may be in cash,cash (or in any combination of Shares of equivalent value, or in some combination thereof.and cash).
At the discretion of the Administrator, the payment upon Stock Appreciation Right exercise may be in cash, shares of Stock (with or without restrictions), or any combination thereof, as determined by the Administrator in Shares of equivalent value, or in some combination thereof.its sole discretion.
AtPayment. Upon exercise of a Stock Appreciation Right, payment shall be made in the discretionform of cash, Shares or a combination thereof as determined by the Administrator,Committee at the time the Award is granted. However, notwithstanding any other provisions of this Plan, in no event may the payment (whether in cash or Shares) upon exercise of a Stock Appreciation Right exercise may be in cash, inexceed an amount equal to 100% of the Fair Market Value of the Shares subject to the Stock Appreciation Right at the time of equivalent value, or in some combination thereof.grant.
AtAny grant may specify that the discretionamount payable upon the exercise of the Administrator, the payment upona Stock Appreciation Right exercise may be paid by the Company in cash, Shares, or any combination thereof and may preclude the right of the Participant to receive and the Company to issue Shares or other equity securities in Shareslieu of equivalent value, or in some combination thereof.cash;
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