股票增值权条款是股权激励计划中的核心条款之一，指公司授予激励对象的一种权利。如果公司股价上升，激励对象可通过行权获得相应数量的股价升值收益，激励对象不用为行权付出现金，行权后获得现金或等值的公司股票。以下为股权激励计划中有关股票增值权的双语条款，供参考：

示例一：

SECTION 8 Stock Appreciation Rights

第8条股票增值权

The Committee may grant SARs to an Employee, NonEmployee Director or Key Advisor separately or in tandem with any Option. The following provisions are applicable to SARs:

委员会可向员工、非员工董事或关键顾问单独授予股票增值权或以串联的方式同时授予任何期权和股票增值权。股票增值权适用以下条款：

(a)Base Amount. The Committee shall establish the base amount of the SAR at the time the SAR is granted. The base amount of each SAR shall not be less than the Fair Market Value of a share of Company Stock on the date of Grant of the SAR.

基础价格。委员会应在授予股票增值权之时确定股票增值权的基础价格。每一份股票增值权的基础价格应不低于股票增值权授予之日每股公司股份的公允市场价值。

(b)Tandem SARs. In the case of tandem SARs, the number of SARs granted to a Grantee that shall be exercisable during a specified period shall not exceed the number of shares of Company Stock that the Grantee may purchase upon the exercise of the related Option during such period. Upon the exercise of an Option, the SARs relating to the Company Stock covered by such Option shall terminate. Upon the exercise of SARs, the related Option shall terminate to the extent of an equal number of shares of Company Stock.

串联股票增值权。如为串联股票增值权，向授予对象授予的、应在规定期间内行使的股票增值权的数量不得超过授予对象在该期间行使相关期权时可购买的公司股份数量。某一期权行使后，与该期权涵盖的公司股票有关的股票增值权应予以终止。股票增值权行使后，相关期权应在对应的同等数量公司股份的范围内予以终止。

(c)Exercisability. An SAR shall be exercisable during the period specified by the Committee in the Grant Instrument, not to exceed ten years from the date of grant, and shall be subject to such vesting and other restrictions as may be specified in the Grant Instrument. The Committee may accelerate the exercisability of any or all outstanding SARs at any time for any reason. SARs may only be exercised while the Grantee is employed by, or providing service to, the Employer or during the applicable period after termination of employment or service as described in Section 5(f) above. A tandem SAR shall be exercisable only during the period when the Option to which it is related is also exercisable.

可行使性。股票增值权可于委员会在授予文书中规定的期间（不得超过自授予之日起十年）内行使，且应遵守授予文书中规定的兑现和其他限制。委员会可在任何时候出于任何理由加速任何或所有尚未行使的股票增值权的可行使性。股票增值权仅可在授予对象受雇于雇主或为雇主提供服务的期间内或在上文第5(f)条所述的雇佣或服务终止后的相关期间内行使。串联股票增值权应仅可在与其有关的期权也可行使之期间行使。

(d)Grants to NonExempt Employees. Notwithstanding the foregoing, SARs granted to persons who are nonexempt employees under the Fair Labor Standards Act of 1938, as amended, may not be exercisable for at least six months after the date of grant (except that such SARs may become exercisable, as determined by the Committee, upon the Grantee’s death, Disability or retirement, or upon a Change of Control or other circumstances permitted by applicable regulations).

向非豁免员工提供的授予。尽管有前述规定，但向美国1938年《公平劳动标准法》（可经修订）中定义的非豁免员工授予的股票增值权在自授予之日起至少满六个月后方可成为可行使的期权（但在授予对象身故、残疾、退休、或发生控制权变更时或在适用法规允许的其他情况下，经委员会决定，该股票增值权可行权）。

(e)Value of SARs. When a Grantee exercises SARs, the Grantee shall receive in settlement of such SARs an amount equal to the value of the stock appreciation for the number of SARs exercised. The stock appreciation for an SAR is the amount by which the Fair Market Value of the underlying Company Stock on the date of exercise of the SAR exceeds the base amount of the SAR as described in subsection (a).

股票增值权的价值。授予对象行使股票增值权时，应在该等股票增值权结算时收取金额等同于行使的股票增值权数量对应的股票增值的价值的款项。股票增值权的股票增值为股票增值权行使之日基础公司股票的公允市场价值超出 (a) 款所述的股票增值权基础价格的部分。

(f)Form of Payment. The appreciation in an SAR shall be paid in shares of Company Stock, cash or any combination of the foregoing, as the Committee shall determine. For purposes of calculating the number of shares of Company Stock to be received, shares of Company Stock shall be valued at their Fair Market Value on the date of exercise of the SAR.

付款方式。股票增值权的增值部分应以公司股份、现金或前述两者之组合的形式支付，具体由委员会决定。就计算待收取的公司股份数量这一目的而言，应按股票增值权行使之日公司股份的公允市场价值对公司股份进行估值。

示例二：

STOCK APPRECIATION RIGHTS.

股票增值权。

7.1  Awards of SARs. Stock Appreciation Rights (“SARs”) may be settled in cash, or Shares (which may consist of Restricted Stock or RSUs), having a value equal to the value determined by multiplying the difference between the Fair Market Value on the date of exercise over the Exercise Price and the number of Shares with respect to which the SAR is being settled. All grants of SARs made pursuant to this Plan will be evidenced by an Award Agreement that will be in such form (which need not be the same for each Participant) as the Committee will from time to time approve, and will comply with and be subject to the terms and conditions of this Plan.

股票增值权的奖励。股票增值权（“股票增值权”）可采用现金或股份（可包括受限股票或受限股票单位）结算，价值等于按如下方式确定的价值：行权日的公允市价与行权价格之间的差额乘以正在结算的股票增值权所产生的股份数目。根据本计划授予的所有股票增值权将由一份奖励协议予以证明，该奖励协议采用委员会不时批准的格式（无需每个参与者的格式均相同），并遵守及受限于本计划的条款和条件。

7.2  Exercise Period and Expiration Date. A SAR will be exercisable within the times or upon the occurrence of events determined by the Committee and set forth in the Award Agreement governing such SAR. The Award Agreement shall set forth the Expiration Date; provided that no SAR will be exercisable after the expiration of ten years from the date the SAR is granted.

行权期和到期日期。股票增值权可以如管理该股票增值权的奖励协议所述，在委员会确定的时间内或在委员会确定的事件发生后行使。奖励协议应载明到期日期；但自股票增值权授予之日起满十年后，任何股票增值权均不得行使。

7.3  Exercise Price. The Committee will determine the Exercise Price of the SAR when the SAR is granted, and which may not be less than the Fair Market Value on the date of grant and may be settled in cash or in Shares

 行权价格。委员会将在股票增值权授予时确定股票增值权的行权价格，行权价格不得低于授予日的公允市价，并可采用现金或股份结算。

7.4  Termination. Subject to earlier termination pursuant to Sections 11 and 13.1 hereof and notwithstanding the exercise periods set forth in the Award Agreement, exercise of SARs will always be subject to the following terms and conditions.

 终止。除根据本计划第11条和第13.1条提前终止之外，尽管奖励协议中规定了行权期，股票增值权的行使将始终受以下条款和条件所规限。

7.4.1  Other than Death or Disability or for Cause. If the Participant is Terminated for any reason other than death, Disability or for Cause, then the Participant may exercise such Participant’s SARs only to the extent that such SARs are exercisable as to Vested Shares upon the Termination Date or as otherwise determined by the Committee. SARs must be exercised by the Participant, if at all, as to all or some of the Vested Shares calculated as of the Termination Date or such other date determined by the Committee, within three (3) months after the Termination Date (or within such shorter time period, not less than thirty (30) days, or within such longer time period after the Termination Date as may be determined by the Committee) but in any event, no later than the expiration date of the SARs.

非因身故、残疾或事由而终止。参与者因身故、残疾或事由之外的任何原因而终止的，参与者的股票增值权仅可由参与者在终止日期就已兑现股份予以行使，或在委员会另行确定的情况下行使。参与者如行使股票增值权，须在终止日期后三（3）个月内（或在不少于三十（30）日的更短时间内，或在委员会确定的终止日期后的更长时间内）就于终止日期或委员会确定其他日期计算的全部或部分已兑现股份予以行使，且无论如何行使时间均不得晚于股票增值权到期日期。

7.4.2  Death or Disability. If the Participant is Terminated because of Participant’s death or Disability (or the Participant dies within three (3) months after a Termination other than for Cause), then Participant’s SARs may be exercised only to the extent that such SARs are exercisable as to Vested Shares by Participant on the Termination Date or as otherwise determined by the Committee. Such SARs must be exercised by Participant (or Participant’s legal representative or authorized assignee), if at all, as to all or some of the Vested Shares calculated as of the Termination Date or such other date determined by the Committee, within twelve (12) months after the Termination Date (or within such shorter time period, not less than six (6) months, or within such longer time period after the Termination Date as may be determined by the Committee) but in any event no later than the expiration date of the SARs.

 身故或残疾。参与者因身故或残疾（或参与者在非因事由而终止之日后三（3）个月内身故）而终止的，仅在参与者在终止日期可就已兑现股份行使股票增值权的情况下或在委员会确定的其他情况下，方可行使参与者的股票增值权。参与者（或参与者的法定代理人或授权受让人）如行使股票增值权，须在终止日期后十二（12）个月内（或在不少于六（6）个月的更短时间内，或在委员会确定的终止日期后的更长时间内）就于终止日期或委员会确定其他日期计算的全部或部分已兑现股份予以行使，且无论如何行使时间均不得晚于股票增值权到期日期。

7.4.3  For Cause. If the Participant is terminated for Cause, the Participant may exercise such Participant’s SARs, but not to an extent greater than such SARs are exercisable as to Vested Shares upon the Termination Date and Participant’s SARs shall expire on such Participant’s Termination Date, or at such later time and on such conditions as are determined by the Committee.

因事由而终止。参与者因事由而终止的，参与者可行使其股票增值权，但行权的范围不得大于在终止日期就已兑现股份行使股票增值权，且参与者的股票增值权应在该参与者的终止日期到期，或在委员会确定的较晚时间，依据委员会确定的条件到期。