Florida Stock Option Agreement of Full House Resorts, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-363D
• Format: Word; Rich Text

Description

18-363D 18-363D . . . 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 on each of the next four anniversaries of the date of grant. The options become fully exercisable upon a change of control and they expire 5 years from the date of grant or 90 days after the optionee ceases to be a director A Florida Stock Option Agreement is a legally binding contract between Full House Resorts, Inc. and an individual employee or executive, granting them the right to purchase a specified number of company stock shares at a predetermined price within a specified period. It is an essential part of the employee compensation package, commonly used to attract and retain talented individuals. Full House Resorts, Inc. is a prominent gaming and entertainment company that operates several resorts and casinos across the United States, including in Florida. The company may offer various types of Stock Option Agreements tailored to meet different employee needs and circumstances. Here are a few types of agreements that may be offered in Florida by Full House Resorts, Inc.: 1. Incentive Stock Options (SOS): These are tax-advantaged stock options granted to key employees. SOS have specific eligibility criteria, holding periods, and tax implications. They offer potential tax benefits when the shares are sold. 2. Non-Qualified Stock Options (Nests): Unlike SOS, Nests do not meet certain requirements set by the Internal Revenue Service (IRS). They are more flexible but lack the same tax advantages. Nests are frequently awarded to a wider range of employees and can be custom-tailored to meet specific employee needs. 3. Restricted Stock Units (RSS): RSS are a type of equity-based compensation where employees are awarded stock units rather than stock options. These units typically vest over time, providing the employee with company stock once the vesting period is complete. RSS are often used as an alternative or in combination with traditional stock options. 4. Performance Stock Units (Plus): Plus are similar to RSS but are granted based on the company's performance against predetermined goals or metrics. They align employee incentives with the company's performance, motivating employees to contribute to the company's success. When entering into a Florida Stock Option Agreement with Full House Resorts, Inc., it is crucial to understand the specific terms and conditions outlined in the agreement. Key elements typically detailed include the number of shares subject to the agreement, exercise price, vesting schedule, expiration period, and any applicable tax provisions. Employees should carefully review the agreement, seeking legal or financial advice if needed, to ensure they comprehend the potential benefits, risks, and restrictions associated with their stock options.

A Florida Stock Option Agreement is a legally binding contract between Full House Resorts, Inc. and an individual employee or executive, granting them the right to purchase a specified number of company stock shares at a predetermined price within a specified period. It is an essential part of the employee compensation package, commonly used to attract and retain talented individuals. Full House Resorts, Inc. is a prominent gaming and entertainment company that operates several resorts and casinos across the United States, including in Florida. The company may offer various types of Stock Option Agreements tailored to meet different employee needs and circumstances. Here are a few types of agreements that may be offered in Florida by Full House Resorts, Inc.: 1. Incentive Stock Options (SOS): These are tax-advantaged stock options granted to key employees. SOS have specific eligibility criteria, holding periods, and tax implications. They offer potential tax benefits when the shares are sold. 2. Non-Qualified Stock Options (Nests): Unlike SOS, Nests do not meet certain requirements set by the Internal Revenue Service (IRS). They are more flexible but lack the same tax advantages. Nests are frequently awarded to a wider range of employees and can be custom-tailored to meet specific employee needs. 3. Restricted Stock Units (RSS): RSS are a type of equity-based compensation where employees are awarded stock units rather than stock options. These units typically vest over time, providing the employee with company stock once the vesting period is complete. RSS are often used as an alternative or in combination with traditional stock options. 4. Performance Stock Units (Plus): Plus are similar to RSS but are granted based on the company's performance against predetermined goals or metrics. They align employee incentives with the company's performance, motivating employees to contribute to the company's success. When entering into a Florida Stock Option Agreement with Full House Resorts, Inc., it is crucial to understand the specific terms and conditions outlined in the agreement. Key elements typically detailed include the number of shares subject to the agreement, exercise price, vesting schedule, expiration period, and any applicable tax provisions. Employees should carefully review the agreement, seeking legal or financial advice if needed, to ensure they comprehend the potential benefits, risks, and restrictions associated with their stock options.