Common Contracts
2 similar Stock Appreciation Rights Award Agreement contracts by Unit Corp
UNIT CORPORATION STOCK APPRECIATION RIGHTS AWARD AGREEMENT PERSONAL AND CONFIDENTIALStock Appreciation Rights Award Agreement • December 15th, 2006 • Unit Corp • Crude petroleum & natural gas • Oklahoma
We are pleased to inform you that as an employee of Unit Corporation or one of its Affiliates, you have been granted an Award of Stock Appreciation Rights (also referred to as a "SARs") under the Unit Corporation Stock and Incentive Compensation Plan (the "Plan"). The SARs give you the opportunity to receive a lump sum cash payment at the time of exercise of the SARs, equal to the result of multiplying (a) the excess of the Fair Market Value of a Share on the date of exercise over the grant price by (b) the number of Shares with respect to which the SAR (or SARs) is exercised. This Award is subject to your acceptance of this Award as provided in Section 1 below and the terms and conditions that follow in this agreement.
UNIT CORPORATION STOCK APPRECIATION RIGHTS AWARD AGREEMENT PERSONAL AND CONFIDENTIALStock Appreciation Rights Award Agreement • December 15th, 2006 • Unit Corp • Crude petroleum & natural gas • Oklahoma
We are pleased to inform you that as an employee of Unit Corporation or one of its Affiliates, you have been granted an Award of Stock Appreciation Rights (also referred to as a "SARs") under the Unit Corporation Stock and Incentive Compensation Plan (the "Plan"). The SARs give you the opportunity to receive shares of Unit Corporation common stock at the time of exercise in an amount determined by the excess of (i) the Fair Market Value of the exercised number of SARs (which shall be equal, on a per share basis to the Fair Market Value of Shares) as of the date of exercise over (ii) the grant price of the specified number of SAR Shares. Such excess, if any, shall be paid in whole shares of the Stock with a value per share equal to the Fair Market Value of the Shares as of the date of exercise, provided that fractional shares of the Shares shall be rounded down to the nearest whole share of the SARs This Award is subject to your acceptance of this Award as provided in Section 1 below an
