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SMG » Topics » Fair Market Value.

This excerpt taken from the SMG 8-K filed Feb 2, 2005.
Fair Market Value. The value of one share of Stock on any relevant date, determined under the following rules:

        [1] If the Stock is traded on an exchange, the reported “closing price” on the relevant date, if it is a trading day, otherwise on the next trading day;
 
        [2] If the Stock is traded over-the-counter with no reported closing price, the mean between the lowest bid and the highest asked prices on that quotation system on the relevant date if it is a trading day, otherwise on the next trading day; or
 
        [3] If neither of the preceding apply, the fair market value as determined by the Committee in good faith.

     

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