What Is A Sar Agreement

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9. Effect of Termination of Employment or Death. If the employee is on leave for a period of more than twelve months (with the exception of leave approved by the Board of Directors or the Committee) or for any reason other than the death is not greater than the death is an employee of the Company, the part of the SAR that ceased to be an employee on the day the employee ceased to be an employee, is no longer a data subject or has been on leave for more than twelve months (with the exception of leave approved by the Board of Directors or the Committee) expires on that date, and any unused portion of the SARs that could otherwise be exercised on that day expires on the date prior to (i) the expiry of the SARs in accordance with the duration for which the SARs were granted; or (ii) three months from that date, except in the case of an employee who is an «approved retiree» as defined below. In the event of the death of an employee without the status of approved retiree during the period of three (3) months after termination of employment or a leave of more than twelve (12) months (with the exception of a leave approved by the Board of Directors or the Committee), the SAR may be exercised by the personal representatives, heirs or legatees of Employee153 to the same extent and during the same period, in which the employee could have exercised the DAS if he had not died. In the event of the death of the employee as an employee of the company or as an approved retiree, the SAR (if the period of stay has expired) may be exercised in its entirety by the personal representatives, heirs or legatees of Employee153s at any time before the end of one year from the date of the employee`s death. but in no case after the term for which the SAR was granted. .

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