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This excerpt taken from the WLB DEF 14A filed Jul 19, 2007. Stock
Appreciation Rights
A participant will not have income upon the grant of a stock
appreciation right. A participant generally will recognize
compensation income upon the exercise of SARs equal to the
amount of the cash and the fair market value of any stock
received. Upon the sale of the stock, the participant will have
capital gain or loss equal to the difference between the sales
proceeds and the value of the stock on the day the SAR was
exercised. This capital gain or loss will be long-term if the
participant held the stock for more than one year and otherwise
will be short-term.
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