Alabama Employee Stock Option Plan of Vivigen, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-148
• Format: Word; Rich Text

Description

18-148 18-148 . . . Employee Stock Option Plan which recognizes eight levels of responsibility within corporation and which provides that each eligible employee shall receive stock option to purchase that number of shares of corporation common stock that is equal to number derived by dividing option value corresponding to his or her level of responsibility by initial grant price (fair market value on date of grant) according to schedule which ranges from technical and administrative personnel levels one through four with option values from $1,250 through $5,000 to Chief Executive Officer level eight with option value of $100,000. Options are exercisable for up to (a) 50% of shares covered by option at any time after corporation's gross revenues meet or exceed a 30% increase for each of two consecutive calendar years ending following grant of option and (b) 100% of shares covered by option at any time after corporation's gross revenues meet or exceed a 40% increase for each of two consecutive calendar years following grant of stock option Alabama Employee Stock Option Plan (ESOP) of Vivien, Inc. is a comprehensive employee benefit program that provides eligible employees of the company with the opportunity to own a stake in the company by acquiring stock options. This plan is designed to incentivize and reward employees for their contribution and loyalty towards the organization's growth and success. Under the Alabama ESOP, employees are granted the right to purchase a specific number of company shares at a predetermined price within a specified timeframe. These stock options give employees the opportunity to participate in the company's financial performance and benefit from its long-term success. By owning company shares, employees become shareholders and have a vested interest in the organization's profitability and growth. The Alabama ESOP of Vivien, Inc. offers several types of stock options, tailored to meet the needs and objectives of employees at various levels within the organization. These options may include: 1. Incentive Stock Options (SOS): SOS are typically granted to key employees and provide preferential tax treatment. Employees who exercise SOS may be subject to a lower tax liability on the gained profits. 2. Non-Qualified Stock Options (SOS): SOS are more flexible than SOS and can be granted to both key employees and non-executive staff members. However, SOS are subject to ordinary income tax rates upon exercise. 3. Restricted Stock Units (RSS): RSS are another type of stock option offered under the Alabama ESOP. Instead of granting the actual stock, RSS promise employees a specific number of shares once certain vesting conditions are met, such as a specific period of employment or achievement of performance targets. 4. Stock Appreciation Rights (SARS): SARS provide employees with the opportunity to receive the appreciation in the company's stock value without actually owning the stock. The value received is equivalent to the increase in the stock's price from the grant date to the exercise date. 5. Performance Shares: Performance shares are granted to employees based on specific performance metrics. These shares are typically awarded to executives and key employees and are subject to vesting conditions related to individual or company performance. It is important to note that the Alabama ESOP of Vivien, Inc., as with any employee benefit plan, is subject to specific rules and regulations governed by the Alabama state laws and federal guidelines outlined in the Employee Retirement Income Security Act (ERICA). The plan aims to align the interests of employees with the long-term success of the organization, foster a sense of ownership, and motivate employees to contribute to the profitability and growth of the company.

Alabama Employee Stock Option Plan (ESOP) of Vivien, Inc. is a comprehensive employee benefit program that provides eligible employees of the company with the opportunity to own a stake in the company by acquiring stock options. This plan is designed to incentivize and reward employees for their contribution and loyalty towards the organization's growth and success. Under the Alabama ESOP, employees are granted the right to purchase a specific number of company shares at a predetermined price within a specified timeframe. These stock options give employees the opportunity to participate in the company's financial performance and benefit from its long-term success. By owning company shares, employees become shareholders and have a vested interest in the organization's profitability and growth. The Alabama ESOP of Vivien, Inc. offers several types of stock options, tailored to meet the needs and objectives of employees at various levels within the organization. These options may include: 1. Incentive Stock Options (SOS): SOS are typically granted to key employees and provide preferential tax treatment. Employees who exercise SOS may be subject to a lower tax liability on the gained profits. 2. Non-Qualified Stock Options (SOS): SOS are more flexible than SOS and can be granted to both key employees and non-executive staff members. However, SOS are subject to ordinary income tax rates upon exercise. 3. Restricted Stock Units (RSS): RSS are another type of stock option offered under the Alabama ESOP. Instead of granting the actual stock, RSS promise employees a specific number of shares once certain vesting conditions are met, such as a specific period of employment or achievement of performance targets. 4. Stock Appreciation Rights (SARS): SARS provide employees with the opportunity to receive the appreciation in the company's stock value without actually owning the stock. The value received is equivalent to the increase in the stock's price from the grant date to the exercise date. 5. Performance Shares: Performance shares are granted to employees based on specific performance metrics. These shares are typically awarded to executives and key employees and are subject to vesting conditions related to individual or company performance. It is important to note that the Alabama ESOP of Vivien, Inc., as with any employee benefit plan, is subject to specific rules and regulations governed by the Alabama state laws and federal guidelines outlined in the Employee Retirement Income Security Act (ERICA). The plan aims to align the interests of employees with the long-term success of the organization, foster a sense of ownership, and motivate employees to contribute to the profitability and growth of the company.