The Illinois Stock Option Agreement between America Online, Inc. and MapQuest. Com, Inc. is a legally binding document that outlines the terms and conditions governing the stock options granted to employees or executives of MapQuest. Com, Inc. by America Online, Inc., both based in Illinois. This agreement serves as a means for MapQuest. Com, Inc. to incentivize and reward its employees by offering them the opportunity to purchase a certain number of shares of America Online, Inc.'s stock at a predetermined price (the "strike price") within a specified time period. This arrangement enables employees to potentially benefit from any future increase in the value of America Online, Inc.'s stock. Key provisions discussed in the Illinois Stock Option Agreement include: 1. Grant and Exercise: It details the number of stock options granted, the exercise price, and vesting schedule (if applicable). It outlines the conditions under which employees can exercise their stock options. 2. Term: The agreement specifies the length of time during which the stock options can be exercised. MapQuest. Com, Inc. typically grants these stock options for a specified period, usually several years, after which they expire. 3. Rights and Restrictions: The agreement highlights any restrictions or limitations placed on the stock options, such as transferability restrictions or limitations on the ability to sell or assign them to others. 4. Termination: The circumstances under which the stock options can be terminated are defined. For example, if an employee leaves MapQuest. Com, Inc. before the stock options are fully vested, they may forfeit their right to exercise the remaining options. 5. Change of Control: It addresses the treatment of stock options in case of a merger, acquisition, or other change of control event involving either company. It outlines whether the options will be accelerated, assumed by the acquiring company, or become fully vested. It's important to note that there may be variations or different types of Illinois Stock Option Agreements between America Online, Inc. and MapQuest. Com, Inc., such as: 1. Employee Stock Option Agreement: This type of agreement is typically offered to regular employees of MapQuest. Com, Inc., granting them the opportunity to buy stock in America Online, Inc. 2. Executive Stock Option Agreement: Executives and high-level employees are often provided with customized stock option agreements that may include additional perks, specific vesting schedules, or different exercise prices compared to regular employees. 3. Incentive Stock Option (ISO) Agreement: SOS are a type of stock option that meets certain criteria set by the Internal Revenue Service (IRS). This agreement outlines the specific terms and conditions for the SOS offered by America Online, Inc. to eligible employees of MapQuest. Com, Inc. In summary, the Illinois Stock Option Agreement between America Online, Inc. and MapQuest. Com, Inc. is a contractual agreement that governs the issuance and exercise of stock options as a means of employee incentivization and ownership within the organization. The agreement outlines the rights, restrictions, and terms associated with the stock options granted to eligible employees or executives of MapQuest. Com, Inc.
Illinois Stock Option Agreement between America Online, Inc. and Mapquest.Com, Inc.
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How to fill out Illinois Stock Option Agreement Between America Online, Inc. And Mapquest.Com, Inc.?
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