Arizona Stock Option Plan of Hayes Wheels International, Inc., which provides for grant of Incentive Stock Options and Nonqualified Stock Options

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-345E
• Format: Word; Rich Text

Description

18-345E 18-345E . . . Stock Option Plan which provides for grant of Incentive Stock Options and Non-qualified Stock Options and (b) initial option grants to certain named officers, employees and consultants which contain specific Time Conditions and Performance Conditions as follows: number of shares underlying each option grant is divided into five equal portions which are designated Tranche A through Tranche E. Twenty percent of shares included in each of Tranches A through E shall satisfy Time Condition if optionee is employee or consultant on January 31, 1997 and on each January 31 thereafter. One hundred percent of shares included in each of Tranches A through E satisfy Performance Condition if average per share price of common stock for any consecutive twenty trading days on principal exchange on which common stock is traded equals or exceeds following prices: Tranche A - $16 per share, Tranche B - $32 per share, Tranche C - $48 per share, Tranche D - $64 per share, Tranche E - $80 per share. Notwithstanding above, Initial Grants become fully exercisable on ninth anniversary of date of grant The Arizona Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive program that facilitates the issuance of Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS) to eligible employees of the company. These stock options serve as a valuable form of compensation, enabling employees to purchase shares of company stock at a predetermined price, providing them with a sense of ownership and alignment with company success. The Incentive Stock Options (SOS) under the Arizona Stock Option Plan are designed to provide certain tax advantages to employees. These options are subject to specific regulations imposed by the Internal Revenue Code (IRC) and can only be granted to employees who meet certain criteria. SOS typically have a favorable tax treatment, with potential capital gains taxes deferred until the shares are sold. On the other hand, the Nonqualified Stock Options (SOS) are not subject to the same restrictions as SOS. They can be granted to both employees and non-employees, such as consultants or directors. SOS are typically more flexible in terms of granting criteria, vesting schedules, and exercise prices. However, they do not receive the same tax benefits as SOS, as they are subject to ordinary income tax treatment at the time of exercise. The Arizona Stock Option Plan of Hayes Wheels International, Inc. provides a framework for the grant, administration, and exercise of both Incentive Stock Options and Nonqualified Stock Options. It outlines the eligibility requirements, exercise periods, vesting schedules, and other terms and conditions governing the options. By implementing this stock option plan, Hayes Wheels International, Inc. aims to attract, motivate, and retain talented individuals who significantly contribute to the company's growth and success. The plan aligns the interests of employees with those of the company's shareholders, encouraging long-term commitment and dedication. In summary, the Arizona Stock Option Plan of Hayes Wheels International, Inc. encompasses both Incentive Stock Options and Nonqualified Stock Options. It is a strategic tool utilized by the company to compensate and incentivize eligible employees, promoting employee loyalty and aligning their interests with the overall success of the organization.

The Arizona Stock Option Plan of Hayes Wheels International, Inc. is a comprehensive program that facilitates the issuance of Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS) to eligible employees of the company. These stock options serve as a valuable form of compensation, enabling employees to purchase shares of company stock at a predetermined price, providing them with a sense of ownership and alignment with company success. The Incentive Stock Options (SOS) under the Arizona Stock Option Plan are designed to provide certain tax advantages to employees. These options are subject to specific regulations imposed by the Internal Revenue Code (IRC) and can only be granted to employees who meet certain criteria. SOS typically have a favorable tax treatment, with potential capital gains taxes deferred until the shares are sold. On the other hand, the Nonqualified Stock Options (SOS) are not subject to the same restrictions as SOS. They can be granted to both employees and non-employees, such as consultants or directors. SOS are typically more flexible in terms of granting criteria, vesting schedules, and exercise prices. However, they do not receive the same tax benefits as SOS, as they are subject to ordinary income tax treatment at the time of exercise. The Arizona Stock Option Plan of Hayes Wheels International, Inc. provides a framework for the grant, administration, and exercise of both Incentive Stock Options and Nonqualified Stock Options. It outlines the eligibility requirements, exercise periods, vesting schedules, and other terms and conditions governing the options. By implementing this stock option plan, Hayes Wheels International, Inc. aims to attract, motivate, and retain talented individuals who significantly contribute to the company's growth and success. The plan aligns the interests of employees with those of the company's shareholders, encouraging long-term commitment and dedication. In summary, the Arizona Stock Option Plan of Hayes Wheels International, Inc. encompasses both Incentive Stock Options and Nonqualified Stock Options. It is a strategic tool utilized by the company to compensate and incentivize eligible employees, promoting employee loyalty and aligning their interests with the overall success of the organization.