Example ContractsClausessettlement of awardVariants
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Settlement of Award. Distribution following exercise of an Option or SAR, and shares of Stock distributed pursuant to such exercise, shall be subject to such conditions, restrictions and contingencies as the Committee may establish. Settlement of SARs may be made in shares of Stock (valued at their Fair Market Value at the time of exercise), in cash, or in a combination thereof, as determined in the discretion of the Committee. The Committee, in its discretion, may impose such conditions, restrictions and contingencies with respect to shares of Stock acquired pursuant to the exercise of an Option or a SAR as the Committee determines to be desirable.

Settlement of Award. Distribution following exercise of an Option or SAR, and shares of Stock distributed pursuant to such exercise, shall be subject to such conditions, restrictions and contingencies as the Committee may establish. Settlement of SARs may be made in shares of Stock (valued at their Fair Market Value at the time of exercise), in cash, or in a combination thereof, as determined in the discretion of the Committee. The Committee, in its discretion, may impose such conditions, restrictions and contingencies with respect to shares of Stock acquired pursuant to the exercise of an Option or aan SAR as the Committee determines to be desirable.

SettlementTime and Method of Award. Distribution following exerciseExercise and Settlement. Except as otherwise provided herein, the Committee shall determine, at the date of an Optiongrant or SAR, andthereafter, the number of shares of Stock distributed pursuant to suchwhich the SAR relates, the time or times at which and the circumstances under which an SAR may be vested and/or exercised in whole or in part (including based on achievement of performance goals and/or future service requirements), the method of exercise, shallmethod of settlement, form of consideration payable upon settlement, method by or forms in which Stock (if any) will be subjectdelivered to such conditions, restrictionsParticipants, and contingencies as the Committee may establish. Settlementany other terms and conditions of any SAR. SARs may be made in shares of Stock (valued at their Fair Market Value at the time of exercise), in cash,either free- standing or in a combination thereof, as determined in the discretion of the Committee. The Committee, in its discretion, may impose such conditions, restrictions and contingenciestandem with respect to shares of Stock acquired pursuant to the exercise of an Option or a SAR as the Committee determines to be desirable.other Awards.

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