California 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 California Nonqualified Stock Option Agreement of Orion Network Systems, Inc. is a legal document that outlines the terms and conditions of stock option grants provided to employees or consultants of Orion Network Systems, Inc. These agreements are governed by the laws and regulations of the state of California. Nonqualified stock options (SOS) are a form of stock-based compensation that allows individuals to purchase shares of the company's stock at a predetermined price within a specified timeframe. Unlike incentive stock options (SOS), SOS do not qualify for favorable tax treatment and are subject to ordinary income tax upon exercise. The California Nonqualified Stock Option Agreement of Orion Network Systems, Inc. typically includes several key provisions, such as: 1. Grant Details: The agreement specifies the number of SOS being granted to the recipient and the grant date. It also outlines the vesting schedule, which determines when the options become exercisable. 2. Exercise Price: The agreement specifies the exercise price, which is the amount the recipient must pay per share to exercise the SOS. This price is usually determined at the grant date and is typically equal to the fair market value of the company's stock at that time. 3. Exercise Period: The agreement outlines the exercise period, which is the timeframe during which the recipient can exercise the SOS. This period is typically several years from the grant date but may be subject to earlier termination upon employment termination or other specified events. 4. Termination of Options: The agreement defines the conditions under which the SOS may be terminated. This may include termination upon expiration of the exercise period, death, disability, or termination of employment or consulting relationship with Orion Network Systems, Inc. It's important to note that while the California Nonqualified Stock Option Agreement of Orion Network Systems, Inc. includes these common provisions, there may be variations or additional terms specific to different types of SOS offered by the company. For example, there may be separate agreements for employees and consultants, each with their own unique terms and conditions. To summarize, the California Nonqualified Stock Option Agreement of Orion Network Systems, Inc. is a legal document that details the terms and conditions of NO grants. It outlines important provisions such as grant details, exercise price, exercise period, and termination conditions. Different types of agreements may exist depending on the recipient's role within the company.

The California Nonqualified Stock Option Agreement of Orion Network Systems, Inc. is a legal document that outlines the terms and conditions of stock option grants provided to employees or consultants of Orion Network Systems, Inc. These agreements are governed by the laws and regulations of the state of California. Nonqualified stock options (SOS) are a form of stock-based compensation that allows individuals to purchase shares of the company's stock at a predetermined price within a specified timeframe. Unlike incentive stock options (SOS), SOS do not qualify for favorable tax treatment and are subject to ordinary income tax upon exercise. The California Nonqualified Stock Option Agreement of Orion Network Systems, Inc. typically includes several key provisions, such as: 1. Grant Details: The agreement specifies the number of SOS being granted to the recipient and the grant date. It also outlines the vesting schedule, which determines when the options become exercisable. 2. Exercise Price: The agreement specifies the exercise price, which is the amount the recipient must pay per share to exercise the SOS. This price is usually determined at the grant date and is typically equal to the fair market value of the company's stock at that time. 3. Exercise Period: The agreement outlines the exercise period, which is the timeframe during which the recipient can exercise the SOS. This period is typically several years from the grant date but may be subject to earlier termination upon employment termination or other specified events. 4. Termination of Options: The agreement defines the conditions under which the SOS may be terminated. This may include termination upon expiration of the exercise period, death, disability, or termination of employment or consulting relationship with Orion Network Systems, Inc. It's important to note that while the California Nonqualified Stock Option Agreement of Orion Network Systems, Inc. includes these common provisions, there may be variations or additional terms specific to different types of SOS offered by the company. For example, there may be separate agreements for employees and consultants, each with their own unique terms and conditions. To summarize, the California Nonqualified Stock Option Agreement of Orion Network Systems, Inc. is a legal document that details the terms and conditions of NO grants. It outlines important provisions such as grant details, exercise price, exercise period, and termination conditions. Different types of agreements may exist depending on the recipient's role within the company.