Exit Price

Exit Price. Means (i) for each SAR that is automatically exercised upon a Change in Control, the lesser of (a) the Change of Control Price and (b) $9.50, and (ii) for each SAR that is exercised as described in Section 4(f), the lesser of (x) the Fair Market Value of a share of Stock on the date of exercise of such SAR, and (y) $9.50.