Illinois Amended and Restated Stock Option Plan of Continental Materials Corp.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-208H
• Format: Word; Rich Text

Description

18-208H 18-208H . . . Non-qualified Stock Option Plan under which committee can award reload stock options (Non-qualified Stock Options which (i) are awarded automatically upon exercise of stock option granted under Plan where option price is paid by optionee's delivery of previously owned shares of common stock, and (ii) entitle such optionee to purchase number of shares so delivered for option price equal to fair market value of a share of common stock on date original option was exercised). Plan provides that if optionee or any other person who acquires options by bequest or inheritance or by reason of his or her death proposes to sell, transfer, or otherwise dispose of shares acquired upon exercise, corporation shall have prior right to purchase all or any part of such shares at market price The Illinois Amended and Restated Stock Option Plan of Continental Materials Corp. is a comprehensive program implemented by the company to provide its employees with stock options as a form of compensation and incentives. This plan is designed to align the interests of employees with those of the company, promoting employee retention and motivation. Under the Illinois Amended and Restated Stock Option Plan, eligible employees of Continental Materials Corp. are granted the opportunity to purchase a specified number of company stocks at a predetermined price within a defined time period. These stock options are a valuable form of compensation, allowing employees to participate in the company's future growth and success. The plan offers several types of stock options, each tailored to meet different employee needs and circumstances. These include: 1. Incentive Stock Options (SOS): SOS are typically reserved for key employees and executives. They provide favorable tax treatment and are subject to specific requirements outlined by tax regulations. 2. Non-Qualified Stock Options (Nests): Nests are available to all employees, including executives, consultants, and directors. They provide flexibility in terms of exercise price and vesting schedule, but do not offer the same tax advantages as SOS. 3. Restricted Stock Units (RSS): RSS are a form of stock-based compensation where employees receive shares of company stock after a specific vesting period. Unlike stock options, RSS do not require an upfront purchase. 4. Performance Stock Options (SOS): SOS are often granted to employees based on predetermined performance targets. These options become exercisable once these goals are met, providing employees with an additional incentive to drive company performance. The Illinois Amended and Restated Stock Option Plan of Continental Materials Corp. aims to attract and retain talented individuals by offering them the opportunity to share in the company's growth and success. This plan not only provides financial rewards for employees but also aligns employee interests with the long-term objectives of Continental Materials Corp., fostering a culture of teamwork and dedication.

The Illinois Amended and Restated Stock Option Plan of Continental Materials Corp. is a comprehensive program implemented by the company to provide its employees with stock options as a form of compensation and incentives. This plan is designed to align the interests of employees with those of the company, promoting employee retention and motivation. Under the Illinois Amended and Restated Stock Option Plan, eligible employees of Continental Materials Corp. are granted the opportunity to purchase a specified number of company stocks at a predetermined price within a defined time period. These stock options are a valuable form of compensation, allowing employees to participate in the company's future growth and success. The plan offers several types of stock options, each tailored to meet different employee needs and circumstances. These include: 1. Incentive Stock Options (SOS): SOS are typically reserved for key employees and executives. They provide favorable tax treatment and are subject to specific requirements outlined by tax regulations. 2. Non-Qualified Stock Options (Nests): Nests are available to all employees, including executives, consultants, and directors. They provide flexibility in terms of exercise price and vesting schedule, but do not offer the same tax advantages as SOS. 3. Restricted Stock Units (RSS): RSS are a form of stock-based compensation where employees receive shares of company stock after a specific vesting period. Unlike stock options, RSS do not require an upfront purchase. 4. Performance Stock Options (SOS): SOS are often granted to employees based on predetermined performance targets. These options become exercisable once these goals are met, providing employees with an additional incentive to drive company performance. The Illinois Amended and Restated Stock Option Plan of Continental Materials Corp. aims to attract and retain talented individuals by offering them the opportunity to share in the company's growth and success. This plan not only provides financial rewards for employees but also aligns employee interests with the long-term objectives of Continental Materials Corp., fostering a culture of teamwork and dedication.