Company: EPR-PE
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001045450-25-000068
Chunk: 130

Company: EPR PROPERTIES
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 130
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 sole discretion.

(a) Number of Shares . The Committee shall have complete discretion to determine the number of SARs granted to any Participant, subject to the limitations imposed in this Plan and by applicable law.

(b) Exercise Price and Other Terms . Except with respect to SARs issued in connection with a Substitute Award, all SARs shall be granted with an exercise price no less than the Fair Market Value of the underlying Shares on the SARs' Date of Grant. The Committee, subject to the provisions of this Plan, shall have complete discretion to determine the terms and conditions of SARs granted under this Plan.

(c) Duration of SARs . Each SAR Award Agreement shall state the period of time, determined by the Committee, within which the SARs may be exercised by the

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Holder (the " SAR Period "). The SAR Period must expire, in all cases, not more than ten (10) years from the SAR Grant Date.

7.2 SAR Award Agreement . Each SAR granted under the Plan shall be evidenced by a written or electronic SAR Award Agreement which shall be entered into by the Company and the Participant to whom the SAR is granted (the "SAR Holder"), and which shall specify the exercise price per share, the terms of the SAR, the conditions of exercise, and such other terms and conditions as the Committee in its sole discretion shall determine.

7.3 Exercise of SARs . SARs shall be exercisable on such terms and conditions as the Committee in its sole discretion shall determine.

7.4 Expiration of SARs . Each SAR Award Agreement shall expire on the earlier of (i) the tenth (10th) anniversary of the SAR's Date of Grant, or (ii) after the period of time, if any, determined by the Committee, within which the SAR may be exercised after an SAR Holder ceases to be a Service Provider. The SAR Award Agreement may provide for different periods of time following an SAR Holder's cessation as a Service Provider during which the SAR may be exercised depending upon whether such cessation as a Service Provider was on account of the Participant's death, Disability, voluntary resignation, cessation as a trustee, or the Company having terminated such SAR Holder's employment with or without Cause.

7.5 Adjustment of SARs. Subject to the limitations set forth below and those contained in Sections 7 and 15, the Committee may make any adjustment in the SAR exercise price, the number of Shares subject to, or the terms of, an outstanding SAR and a subsequent granting of