S-SAR definition
Examples of S-SAR in a sentence
The SSARs shall be convertible into Common Stock during the Participant’s lifetime by the Participant or upon the death of the Participant by a transferee to whom the SSAR or the right to convert the SSAR into Common Stock has been transferred pursuant to Section 8 below.
The Participant is ultimately liable and responsible for all taxes owed by the Participant in connection with the SSAR, regardless of any action (by the Company or any Affiliate or any designated agent) with respect to any tax withholding obligations that arise in connection with the SSAR or its exercise.
Each SSAR entitles the Participant to receive the appreciation in value of one underlying Share, subject to the terms, conditions and maximum value limitations contained in this Agreement.
You shall not have any rights as a stockholder with respect to the shares of Common Stock subject to the SSAR until you have exercised the SSAR for such shares.
To exercise all or part of the SSAR you must deliver a “Notice of Exercise,” in such form as the Company authorizes.
Neither the Company nor the Participant may defer delivery of any Shares with respect to this SSAR.
The SSARs shall be convertible into Common Stock during the Participant’s lifetime by the Participant or upon the death of the Participant by a transferee to whom the SSAR or the right to convert the SSAR into Common Stock has been transferred pursuant to Paragraph 9 below.
The terms of the SSAR shall be binding upon the executors, administrators, heirs, successors and assigns of the Grantee.
Neither the SSAR nor this Agreement shall confer upon the Grantee any right to continued employment or service with the Company.
This SSAR may not be sold, assigned, transferred, pledged or otherwise encumbered by the Participant, either voluntarily or by operation of law, except by will or the laws of descent and distribution, and, during the lifetime of the Participant, this SSAR shall be exercisable only by the Participant.