SOSAR definition

SOSAR means the right granted to the Participant by the Company to receive Shares having a Fair Market Value equal to the excess, if any, of the Fair Market Value of a Share on the date of exercise over the Exercise Price for each such right granted (with Fair Market Value on the exercise date for these purposes determined based on the closing price of a Share on the last trading day before the exercise date), or as otherwise provided in the Plan.
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Examples of SOSAR in a sentence

  • This SOSAR shall not be transferable by you other than by will or by the laws of descent and distribution and may be exercised, during your lifetime, only by you except that the right to exercise a SOSAR may be transferred in accordance with the limitations set forth in the Plan.

  • You shall have no rights as a shareholder with respect to the SOSAR shares until payment of related tax withholding, and delivery of such shares as herein provided.

  • This SOSAR Agreement shall be enforced and construed in accordance with the laws of the State of Michigan.

  • Upon exercise of the SOSARs, you shall be entitled to receive payment from the Company in an amount equal to (a) the Fair Market Value at the exercise date minus (b) the G▇▇▇▇ ▇▇▇▇▇; multiplied by the number of shares with respect to which the SOSAR is exercised.

  • This remedy shall be the Aggrieved Parties’ sole and exclusive remedy against Dayforce, any Dayforce Affiliate and Dayforce Contractor.

  • This SOSAR Agreement constitutes the entire agreement among the parties with respect to the subject matter hereof and supersedes all prior agreements and understandings, whether written or oral.

  • This SOSAR Agreement may only be amended in writing signed by the parties hereto.

  • Employee has reviewed the Plan and agrees to be bound by the terms, conditions and restrictions set forth therein and in this Agreement as to exercise of the SOSAR.

  • In lieu of a cash payment, Employee shall have the discretion, by making an election, subject to the terms and limitations of Article 15.1 of the Plan, to have MBT withhold Common Shares upon exercise of the SOSAR.

  • Immediately prior to the Closing, each then outstanding stock appreciation right (SOSAR) and restricted stock unit (RSU), whether unvested or vested, shall be exchanged for shares of MBT Common Stock according to their respective award agreement terms.