Indiana Stock Incentive Plan of Ambase Corp.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-350A
• Format: Word; Rich Text

Description

18-350A 18-350A . . . Stock Incentive Plan which provides for issuance of (a) incentive stock options, (b) Non-qualified Stock Options, (c) stock appreciation rights, (d) restricted stock, (e) unrestricted stock, and (f) performance shares. The Plan permits optionees to pay exercise price of options (i) in cash, (ii) in shares of corporation common stock already owned by optionee, (iii) with combination of cash and shares, (iv) by "pyramiding" shares or (v) by effecting a "cashless exercise". "Pyramiding" is technique whereby optionee requests issuer to automatically apply portion of shares received upon exercise of stock option to satisfy exercise price of additional stock options, resulting in multiple simultaneous exercises of options by use of shares as payment. A "cashless exercise" is technique which allows optionee to exercise stock options without cash through assistance of broker through either simultaneous exercise and sale or broker loan

The Indiana Stock Incentive Plan is a program established by Abase Corp., a corporation based in Indiana, to provide its employees with an opportunity to own company stocks and benefit from their value appreciation over time. This plan aims to align the interests of employees with the long-term success of Abase Corp while also providing them with a financial incentive to stay with the company and contribute to its growth. The Indiana Stock Incentive Plan offers various types of stock-based incentives to eligible employees based on their performance, position within the company, and other predetermined criteria. These incentives may include stock options, restricted stock units (RSS), performance-based stock awards, or a combination of these. 1. Stock Options: Stock options are a common type of stock incentive offered under the Indiana Stock Incentive Plan. They provide employees with the right to purchase a certain number of company stocks at a predetermined price (known as the exercise price) within a specified period. By purchasing stocks at a lower price than the current market value, employees can benefit from the price difference if the stock value appreciates. 2. Restricted Stock Units (RSS): RSS are another type of stock incentive provided under the Indiana Stock Incentive Plan. With RSS, employees receive a certain number of company stocks as a grant, subject to a vesting schedule. The vesting period typically spans several years, during which employees must remain with the company to become eligible to receive the stocks. Once the RSS vest, employees have the right to sell or retain the stocks. 3. Performance-Based Stock Awards: Abase Corp. may also offer performance-based stock awards as part of the Indiana Stock Incentive Plan. These awards are granted to employees based on the achievement of predefined performance goals or targets. The performance metrics and goals could be related to individual performance, team goals, or the overall company's performance. Meeting or exceeding these targets would make the employees eligible to receive the awarded stocks. The Indiana Stock Incentive Plan of Abase Corp. is designed to attract and retain talented individuals and motivate them to contribute to the company's growth and success. By offering various stock-based incentives, Abase Corp. aims to align the interests of its employees with those of the company's shareholders, fostering a sense of ownership and long-term commitment among its workforce.