District of Columbia 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 District of Columbia Employee Stock Option Plan (DC ESOP) of Vivien, Inc. is a comprehensive employee benefit program designed to provide eligible employees of the company with the opportunity to acquire ownership in the organization through stock options. Vivien, Inc. is a renowned company based in the District of Columbia, specializing in innovative solutions in various industries. Under the DC ESOP, employees are granted the right to purchase a specific number of company shares at a predetermined price, known as the exercise price. This option allows employees to participate in the company's success and share in its growth over time. The program is specifically designed for employees in the District of Columbia, creating a sense of local ownership and engagement. Vivien, Inc. offers different types of the DC ESOP to its employees, providing flexibility and customization options based on individual needs. Some of these types may include: 1. Standard Employee Stock Option Plan: This plan is the foundation of Vivien, Inc.'s ESOP program. It provides eligible employees with opportunities to purchase company shares at a fixed price within a specified time frame, typically known as the vesting period. 2. Performance-Based Stock Option Plan: This plan is designed to reward employees based on their individual or group performances. Eligible employees may be granted stock options upon achieving specific pre-determined performance goals, such as meeting sales targets or exceeding revenue projections. 3. Restricted Stock Unit (RSU) Plan: In addition to traditional stock options, Vivien, Inc. might also offer RSS as part of the DC ESOP. RSS are usually awarded to employees without an upfront purchase or exercise price. Instead, these units represent a promise of future stock delivery upon meeting certain conditions, such as continued employment for a specified period. 4. Stock Appreciation Rights (SARS) Plan: The SARS plan offers an alternative method for employees to benefit from the company's stock price appreciation. Unlike stock options, SARS provide employees with the equivalent value of stock price appreciation in cash or additional company shares, based on predetermined terms and conditions. These different types of DCE SOPs cater to the unique financial and incentive needs of Vivien, Inc.'s employees in the District of Columbia. By offering a range of options, the company aims to attract, retain, and motivate a talented workforce, fostering a collaborative and entrepreneurial spirit within the organization.