Connecticut 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 Connecticut Employee Stock Option Plan of Vivien, Inc. is a program designed to provide employees with the opportunity to purchase company stock at a predetermined price. This incentive enables employees to share in the success of the company and align their interests with shareholders. The plan is subject to specific guidelines and regulations outlined by the state of Connecticut. Vivien, Inc. offers two main types of employee stock options within the Connecticut Employee Stock Option Plan: 1. Non-Qualified Stock Options (Nests): These are typically offered to all employees and provide them with the right to purchase company stock at a specified price. Nests offer more flexibility in terms of exercise price and timing of exercise. Employees can exercise the options for a specified period, after which the options may expire. 2. Incentive Stock Options (SOS): These stock options are generally granted to key employees and carry certain tax advantages. SOS provide employees with the right to purchase company stock at a predetermined price, usually at a discount. To qualify for favorable tax treatment, employees must meet specific requirements and hold the stock for a certain period before selling it. Employees who are eligible for the Connecticut Employee Stock Option Plan can benefit from the potential appreciation of Vivien, Inc.'s stock value over time. This equity-based compensation plan aims to incentivize employees and foster a sense of ownership in the company's long-term success. It is important for employees to thoroughly understand the terms and conditions of the Connecticut Employee Stock Option Plan, including vesting schedules, exercise periods, and any limitations on the sale or transfer of the purchased stock. Vivien, Inc. provides comprehensive communication and support to ensure employees are well-informed about the plan and its potential benefits. Overall, the Connecticut Employee Stock Option Plan of Vivien, Inc. empowers employees by aligning their financial interests with the company's growth and success. By offering both non-qualified and incentive stock options, Vivien, Inc. aims to motivate employees to contribute their best efforts and drive the company towards achieving its strategic goals.

The Connecticut Employee Stock Option Plan of Vivien, Inc. is a program designed to provide employees with the opportunity to purchase company stock at a predetermined price. This incentive enables employees to share in the success of the company and align their interests with shareholders. The plan is subject to specific guidelines and regulations outlined by the state of Connecticut. Vivien, Inc. offers two main types of employee stock options within the Connecticut Employee Stock Option Plan: 1. Non-Qualified Stock Options (Nests): These are typically offered to all employees and provide them with the right to purchase company stock at a specified price. Nests offer more flexibility in terms of exercise price and timing of exercise. Employees can exercise the options for a specified period, after which the options may expire. 2. Incentive Stock Options (SOS): These stock options are generally granted to key employees and carry certain tax advantages. SOS provide employees with the right to purchase company stock at a predetermined price, usually at a discount. To qualify for favorable tax treatment, employees must meet specific requirements and hold the stock for a certain period before selling it. Employees who are eligible for the Connecticut Employee Stock Option Plan can benefit from the potential appreciation of Vivien, Inc.'s stock value over time. This equity-based compensation plan aims to incentivize employees and foster a sense of ownership in the company's long-term success. It is important for employees to thoroughly understand the terms and conditions of the Connecticut Employee Stock Option Plan, including vesting schedules, exercise periods, and any limitations on the sale or transfer of the purchased stock. Vivien, Inc. provides comprehensive communication and support to ensure employees are well-informed about the plan and its potential benefits. Overall, the Connecticut Employee Stock Option Plan of Vivien, Inc. empowers employees by aligning their financial interests with the company's growth and success. By offering both non-qualified and incentive stock options, Vivien, Inc. aims to motivate employees to contribute their best efforts and drive the company towards achieving its strategic goals.