Common use of Determination of Payment of Cash and/or Common Stock Upon Exercise of SAR Clause in Contracts

Determination of Payment of Cash and/or Common Stock Upon Exercise of SAR. At the Committee’s discretion, the amount payable as a result of the exercise of an SAR may be settled in cash, Common Stock, or a combination of cash and Common Stock. No fractional shares shall be delivered upon the exercise of an SAR.

Appears in 4 contracts

Samples: 2023 Stock Incentive Plan (Universal Corp /Va/), Universal Corp /Va/, Universal Corp /Va/

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Determination of Payment of Cash and/or Common Stock Upon Exercise of SAR. At the Committee’s Board's discretion, the amount payable as a result of the exercise of an SAR may be settled in cash, Common Stock, or a combination of cash and Common Stock. No fractional shares shall be delivered upon the exercise of an SARSAR but a cash payment will be made in lieu thereof.

Appears in 2 contracts

Samples: Eagle Financial Services Inc, Southern Community Financial Corp.

Determination of Payment of Cash and/or Common Stock Upon Exercise of SAR. At the CommitteeBoard’s discretion, the amount payable as a result of the exercise of an SAR may be settled in cash, Common Stock, or a combination of cash and Common Stock. No fractional shares shall be delivered upon the exercise of an SARSAR but a cash payment will be made in lieu thereof.

Appears in 1 contract

Samples: Southern National Bancorp of Virginia Inc

Determination of Payment of Cash and/or Common Stock Upon Exercise of SAR. At the Committee’s discretion, the amount payable as a result of the exercise of an a SAR may be settled in cash, Common Stock, or a combination of cash and Common Stock. No fractional shares shall be delivered upon the exercise of an SARa SAR but a cash payment will be made in lieu thereof.

Appears in 1 contract

Samples: Hilb Rogal & Hamilton Co /Va/

Determination of Payment of Cash and/or Common Stock Upon Exercise of SAR. At the Committee’s Administrator's discretion, the amount payable as a result of the exercise of an SAR may be settled in cash, Common Stock, or a combination of cash and Common Stock. No A fractional shares share shall not be delivered deliverable upon the exercise of an SARSAR but a cash payment will be made in lieu thereof. 8.04.

Appears in 1 contract

Samples: Chesapeake Corp /Va/

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Determination of Payment of Cash and/or Common Stock Upon Exercise of SAR. At the Committee’s discretion, the amount payable as a result of the exercise of an SAR may be settled in cash, Common Stock, or a combination of cash and Common Stock. No fractional shares shall be delivered upon the exercise of an SARSAR but a cash payment will be made in lieu thereof.

Appears in 1 contract

Samples: Landamerica Financial Group Inc

Determination of Payment of Cash and/or Common Stock Upon Exercise of SAR. At If the Committee’s discretionAgreement provides or the Committee so determines, up to one-half of the amount payable as a result of the exercise of an SAR may be settled in cash, Common Stock, or a combination by the payment of cash and the remainder by the issuance of Common StockStock having an aggregate Fair Market Value equal thereto. No fractional shares In the absence of such provision or determination, a Participant exercising an SAR shall be delivered upon entitled to receive Common Stock equal in aggregate Fair Market Value to the amount payable as a result of the exercise of an SAR.

Appears in 1 contract

Samples: Tredegar Corp

Determination of Payment of Cash and/or Common Stock Upon Exercise of SAR. At the CommitteeAdministrator’s discretion, the amount payable as a result of the exercise of an SAR may be settled in cash, Common Stock, or a combination of cash and Common Stock. No fractional shares share shall be delivered deliverable upon the exercise of an SARSAR but a cash payment will be made in lieu thereof.

Appears in 1 contract

Samples: Tredegar Corp

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