|
|
 | | | |
- close
- close
- close
- close
This excerpt taken from the MRO DEF 14A filed Mar 13, 2007. (b) Stock Appreciation Rights. A
Director Award may be in the form of an SAR. On the Grant Date, the Grant Price
of an SAR shall be not less than the Fair Market Value of the Common Stock
subject to such SAR. The holder of a
tandem SAR may elect to exercise either the option or the SAR, but not
both. The exercise period for an SAR
shall extend no more than 10 years after the Grant Date. SARs may not include provisions that “reload”
the SAR upon exercise. Subject to the
foregoing provisions, the terms, conditions and limitations applicable to any
SARs awarded to Non-employee Directors pursuant to this Plan, including the
Grant Price, the term of any SARs and the date or dates upon which they become
exercisable, shall be determined by the Board.
|
| |||||||
