Arizona Nonqualified Stock Option Agreement of Orion Network Systems, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-364B
• Format: Word; Rich Text

Description

18-364B 18-364B . . . Stock Option Agreement under which corporation grants to optionee a Non-qualified Option to acquire 50,000 shares of stock immediately and an additional 50,000 shares upon successful completion of a Notes offering and the refinancing of the corporation's obligations under a Credit Agreement The Arizona Nonqualified Stock Option Agreement of Orion Network Systems, Inc. is a legally binding document that outlines the terms and conditions of stock options granted by the company to its employees or other individuals. Nonqualified stock options are a type of compensation commonly used by companies to attract and retain talent, and they provide employees with the right to purchase a certain number of company shares at a predetermined price within a specified period. This agreement is specific to the state of Arizona and encompasses all the necessary details and provisions related to the stock option grant. Some key elements typically included in an Arizona Nonqualified Stock Option Agreement are: 1. Grant of Options: This section outlines the number of stock options being granted to the recipient and specifies the date of grant. 2. Exercise Price: The agreement sets the exercise price at which the recipient can buy the company stock when exercising the options. This price is usually set at the fair market value of the stock on the grant date. 3. Vesting Schedule: A vesting schedule defines the timeline over which the recipient's rights to exercise the options will gradually accrue. The agreement will outline the specific vesting schedule, which may be based on criteria such as the recipient's length of service or achievement of performance goals. 4. Expiration Date: The agreement specifies the expiration date, also known as the exercise period, within which the stock options can be exercised. This is typically several years after the grant date. 5. Termination Provisions: This section covers circumstances under which the stock option grant may be terminated, such as termination of employment or death of the recipient. 6. Transferability: The agreement outlines whether the stock options can be transferred to another individual or entity. It is important to note that this description provides a general overview of the Arizona Nonqualified Stock Option Agreement of Orion Network Systems, Inc. The exact terms and provisions may vary depending on the specific agreement and the company's policies. Additionally, there may be multiple types of Arizona Nonqualified Stock Option Agreements offered by Orion Network Systems, Inc. depending on factors such as the employee's position or level within the company. In conclusion, the Arizona Nonqualified Stock Option Agreement of Orion Network Systems, Inc. is a crucial legal document that defines the terms and conditions of stock option grants. It is designed to protect the interests of both the company and the recipients, while providing incentives for employees or other individuals to contribute to the company's growth and success.

The Arizona Nonqualified Stock Option Agreement of Orion Network Systems, Inc. is a legally binding document that outlines the terms and conditions of stock options granted by the company to its employees or other individuals. Nonqualified stock options are a type of compensation commonly used by companies to attract and retain talent, and they provide employees with the right to purchase a certain number of company shares at a predetermined price within a specified period. This agreement is specific to the state of Arizona and encompasses all the necessary details and provisions related to the stock option grant. Some key elements typically included in an Arizona Nonqualified Stock Option Agreement are: 1. Grant of Options: This section outlines the number of stock options being granted to the recipient and specifies the date of grant. 2. Exercise Price: The agreement sets the exercise price at which the recipient can buy the company stock when exercising the options. This price is usually set at the fair market value of the stock on the grant date. 3. Vesting Schedule: A vesting schedule defines the timeline over which the recipient's rights to exercise the options will gradually accrue. The agreement will outline the specific vesting schedule, which may be based on criteria such as the recipient's length of service or achievement of performance goals. 4. Expiration Date: The agreement specifies the expiration date, also known as the exercise period, within which the stock options can be exercised. This is typically several years after the grant date. 5. Termination Provisions: This section covers circumstances under which the stock option grant may be terminated, such as termination of employment or death of the recipient. 6. Transferability: The agreement outlines whether the stock options can be transferred to another individual or entity. It is important to note that this description provides a general overview of the Arizona Nonqualified Stock Option Agreement of Orion Network Systems, Inc. The exact terms and provisions may vary depending on the specific agreement and the company's policies. Additionally, there may be multiple types of Arizona Nonqualified Stock Option Agreements offered by Orion Network Systems, Inc. depending on factors such as the employee's position or level within the company. In conclusion, the Arizona Nonqualified Stock Option Agreement of Orion Network Systems, Inc. is a crucial legal document that defines the terms and conditions of stock option grants. It is designed to protect the interests of both the company and the recipients, while providing incentives for employees or other individuals to contribute to the company's growth and success.