Alaska Stock Incentive Plan of Ambase Corp.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-350A
• Format: Word; Rich Text

Description

18-350A 18-350A . . . Stock Incentive Plan which provides for issuance of (a) incentive stock options, (b) Non-qualified Stock Options, (c) stock appreciation rights, (d) restricted stock, (e) unrestricted stock, and (f) performance shares. The Plan permits optionees to pay exercise price of options (i) in cash, (ii) in shares of corporation common stock already owned by optionee, (iii) with combination of cash and shares, (iv) by "pyramiding" shares or (v) by effecting a "cashless exercise". "Pyramiding" is technique whereby optionee requests issuer to automatically apply portion of shares received upon exercise of stock option to satisfy exercise price of additional stock options, resulting in multiple simultaneous exercises of options by use of shares as payment. A "cashless exercise" is technique which allows optionee to exercise stock options without cash through assistance of broker through either simultaneous exercise and sale or broker loan

The Alaska Stock Incentive Plan of Abase Corp. is a unique employee compensation program offered by Abase Corp. to its employees. This plan is designed to provide eligible employees with the opportunity to acquire shares of the company's stock as part of their overall compensation package. Under the Alaska Stock Incentive Plan, employees are given the chance to purchase shares of Abase Corp.'s stock at a predetermined price, often below the market value. This encourages employees to become more financially invested in the success of the company and aligns their interests with those of the shareholders. This stock incentive plan has several types that cater to different employee groups: 1. Alaska Stock Option Plan: This plan allows eligible employees to purchase company stock at a specified price, known as the strike price, within a predetermined period. The employees can exercise these stock options after a specific vesting period, incentivizing their long-term commitment to the company's growth. 2. Alaska Restricted Stock Unit Plan: This plan grants eligible employees a certain number of restricted stock units (RSS) that convert into company stock after a specific vesting period. Unlike stock options, RSS do not require employees to purchase the stock but are given as part of their compensation. The employees receive the shares outright once the vesting conditions are met. 3. Alaska Employee Stock Purchase Plan: This plan enables eligible employees to purchase shares of Abase Corp.'s stock through payroll deductions. The stock is typically discounted from the market price, making it an attractive investment opportunity for employees. The purchase occurs at regular intervals, promoting an employee's ownership stake and contributing to their financial growth. Regardless of the specific type of the Alaska Stock Incentive Plan, the overall objective is to motivate and retain talented employees by providing them with an opportunity to share in the company's success. These plans help foster a sense of ownership, align employee interests with shareholder interests, and build a culture of long-term commitment and growth within Abase Corp.