SAR Public Market Value

SAR Public Market Value. The hypothetical undiscounted market value (aka "Hypothetical Public Market Value") of LS&CO. common stock as determined by a third party valuation firm, requested by LS&CO. and approved by the Committee, as of the end of each calendar year in which a Fiscal Year ends. In the event of a Public Equity Offering or a Change in Control, the SAR Public Market Value will be determined under Paragraph 9 or 10, respectively.