Form of Payment. Payment of the amount determined under [[Sections 7(b)(3) or 7(c)])]], may be made solely in whole shares of Common Stock in a number determined at their Fair Market Value on the date of exercise of the Stock Appreciation Right or, alternatively, at the sole discretion of the Committee, solely in cash, or in a combination of cash and Shares as the Committee deems advisable. If the Committee decides to make full payment in Shares, and the amount payable results in a fractional Share, payment for the fractional Share will be made in cash.
Form of Payment. Payment of the amount determined under [[Sections 7(b)(3) or 7(c)])]], may be made solely in whole shares of Common Stock in a number determined at their Fair Market Value on the date of exercise of the Stock Appreciation Right or, alternatively, at the sole discretion of the Committee, solely in cash, or in a combination of cash and Shares as the Committee deems advisable. In the event that a Stock Appreciation Right is exercised within the sixty-day period following a Change in Control, any amount payable shall be solely in cash. If the Committee decides to make full payment in Shares, and the amount payable results in a fractional Share, payment for the fractional Share will be made in cash. Notwithstanding the foregoing, no payment in the form of cash may be made upon the exercise of a Stock Appreciation Right pursuant to [[Section 7(b)(3) or 7(c)])]] to an officer of the Company or a Subsidiary who is subject to Section 16(b) of the Exchange Act, unless the exercise of such Stock Appreciation Right is made during the period beginning on the third business day and ending on the twelfth business day following the date of release for publication of the Company’s quarterly or annual statements of earnings.
Section # Form of Payment. PaymentFor purposes of calculating the amount determined under [[Sections 7(b)(3)of Shares, cash, or 7(c)])]], mayboth, to be made solely in whole shares of Common Stock in a number determinedreceived, Shares shall be valued at their Fair Market Value on the date of exercise of the Stock Appreciation Right or, alternatively, at the sole discretionand shall be distributed, subject to [Section 12.6], net of the Committee, solely in cash, or in a combination of cash and Shares as the Committee deems advisable. If the Committee decidesapplicable withholding taxes. When payment is to make full payment in Shares, and the amount payable results in a fractional Share, payment for the fractional Share will be made in cash.shares of Common Stock, the number of Shares to be issued shall be determined on the basis of the Fair Market Value of the Shares on the date of exercise of the Stock Appreciation Right. For purposes of this [Article VIII], a Stock Appreciation Right shall be considered exercised on the date on which the Company receives actual notice of exercise from the Grantee.
FormPayment. Upon exercise of Payment. Payment of the amount determined under [[Sections 7(b)(3) or 7(c)])]], maya Stock Appreciation Right, payment shall be made solely in whole sharesthe form of Commoncash, Shares or a combination thereof as determined by the 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 in a number determined at theirAppreciation Right exceed an amount equal to 100% of the Fair Market Value onof the date of exercise ofShares subject to the Stock Appreciation Right or, alternatively, at the sole discretiontime of the Committee, solely in cash, or in a combination of cash and Shares as the Committee deems advisable. If the Committee decides to make full payment in Shares, and the amount payable results in a fractional Share, payment for the fractional Share will be made in cash.grant.
FormPayment. The Committee shall have sole discretion to determine in each Award agreement whether the payment with respect to the exercise of Payment. Paymenta Stock Appreciation Right will be in the form of all cash, Shares, or any combination thereof. In the event of the amount determined under [[Sections 7(b)(3) or 7(c)])]], may be made solelyexercise of a Stock Appreciation Right payable in Shares, the holder of the Stock Appreciation Right shall receive that number of whole sharesShares of Common Stock in a number determined at theirstock of the Company having an aggregate Fair Market Value on the date of exercise equal to the value obtained by multiplying # the excess of the Fair Market Value of a Share on the date of exercise over the exercise price for the Stock Appreciation Right or, alternatively, atby # the sole discretionnumber of Shares as to which the Stock Appreciation Right is exercised. However, notwithstanding the foregoing, the Committee, solely in cash, or inits sole discretion, may place a combination of cash and Shares as the Committee deems advisable. If the Committee decides to make full payment in Shares, andceiling on the amount payable results inupon exercise of a fractional Share, payment forStock Appreciation Right, but any such limitation shall be specified at the fractional Share will be made in cash.time that the Stock Appreciation Right is granted.
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