California 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 The California Employee Stock Option Plan (ESOP) of Vivien, Inc. is a comprehensive employee benefit program designed to incentivize and reward employees of the company. This plan allows eligible employees to acquire company stock options, providing them with the opportunity to participate in the company's growth and success. Under the California ESOP, Vivien, Inc. offers two types of stock options to its employees: 1. Non-Qualified Stock Options (Nests): This type of stock option gives employees the right to purchase company shares at a predetermined price, known as the exercise or strike price. Nests are typically granted to all employees, regardless of their job level or position. The employee can exercise these options at a later date, potentially realizing capital gains if the stock price has increased. 2. Incentive Stock Options (SOS): SOS are another type of stock option available to eligible employees. These options are typically granted to key employees and hold certain tax advantages. Unlike Nests, SOS offer a favorable tax treatment upon exercise and sale of the underlying stock, subject to specific holding period requirements. Vivien, Inc.'s California ESOP aims to provide employees with ownership in the company, aligning their interests with the overall success of the organization. This program allows employees to become more engaged, committed, and motivated, as they have a direct stake in the company's financial performance. By offering stock options, Vivien, Inc. fosters a sense of loyalty and dedication among its workforce. Participating employees are granted stock options based on various factors, such as job performance, tenure, and contribution to the company's growth. The number of options granted may vary depending on these factors. Once options are granted, employees must adhere to a vesting schedule, which outlines the timeframe within which the options become exercisable. This incentivizes employees to remain with the company and contribute to its long-term success. Upon reaching the vesting period, employees can exercise their options, usually by purchasing shares at the predetermined exercise price. The options can be exercised within a specified period, allowing employees to benefit from any increase in the company's stock value. It is important to note that there might be certain restrictions or blackout periods that employees need to be aware of before exercising their stock options. Overall, the California Employee Stock Option Plan of Vivien, Inc. is a vital component of the company's compensation and benefits package. By granting stock options to eligible employees, Vivien, Inc. aims to attract, retain, and motivate talented individuals, fostering a sense of ownership and shared success within its workforce.

The California Employee Stock Option Plan (ESOP) of Vivien, Inc. is a comprehensive employee benefit program designed to incentivize and reward employees of the company. This plan allows eligible employees to acquire company stock options, providing them with the opportunity to participate in the company's growth and success. Under the California ESOP, Vivien, Inc. offers two types of stock options to its employees: 1. Non-Qualified Stock Options (Nests): This type of stock option gives employees the right to purchase company shares at a predetermined price, known as the exercise or strike price. Nests are typically granted to all employees, regardless of their job level or position. The employee can exercise these options at a later date, potentially realizing capital gains if the stock price has increased. 2. Incentive Stock Options (SOS): SOS are another type of stock option available to eligible employees. These options are typically granted to key employees and hold certain tax advantages. Unlike Nests, SOS offer a favorable tax treatment upon exercise and sale of the underlying stock, subject to specific holding period requirements. Vivien, Inc.'s California ESOP aims to provide employees with ownership in the company, aligning their interests with the overall success of the organization. This program allows employees to become more engaged, committed, and motivated, as they have a direct stake in the company's financial performance. By offering stock options, Vivien, Inc. fosters a sense of loyalty and dedication among its workforce. Participating employees are granted stock options based on various factors, such as job performance, tenure, and contribution to the company's growth. The number of options granted may vary depending on these factors. Once options are granted, employees must adhere to a vesting schedule, which outlines the timeframe within which the options become exercisable. This incentivizes employees to remain with the company and contribute to its long-term success. Upon reaching the vesting period, employees can exercise their options, usually by purchasing shares at the predetermined exercise price. The options can be exercised within a specified period, allowing employees to benefit from any increase in the company's stock value. It is important to note that there might be certain restrictions or blackout periods that employees need to be aware of before exercising their stock options. Overall, the California Employee Stock Option Plan of Vivien, Inc. is a vital component of the company's compensation and benefits package. By granting stock options to eligible employees, Vivien, Inc. aims to attract, retain, and motivate talented individuals, fostering a sense of ownership and shared success within its workforce.