An SAR entitles the Participant to receive the amount, in cash or Stock, by which the fair market value of a specified number of shares on the exercise date exceeds an exercise price established by the Compensation Committee.

• 于行使日当天，某一定额股票之合理市值，超出补偿委员会规定的行使价，则依股票增值权，参与者得就差价部份领取现金或股票。