Kansas Nonemployee Directors Stock Plan of Jacor Communications, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-282A
• Format: Word; Rich Text

Description

18-282A 18-282A . . . Non-employee Director Stock Plan under which Board of Directors can grant (a) Non-qualified Stock Options, (b) Restricted Stock, (c) Stock Appreciation Rights, (d) Performance Units, (e) Performance Shares, and (f) other stock units to Non-employee directors The Kansas Nonemployee Directors Stock Plan is a program established by Jacob Communications, Inc. to provide stock ownership opportunities to nonemployee directors based in the state of Kansas. This plan is designed to align the interests of the board of directors with those of the company's shareholders, encouraging active participation and long-term commitment. Under the Kansas Nonemployee Directors Stock Plan, eligible directors have the opportunity to acquire shares of Jacob Communications, Inc.'s common stock. This allows them to enjoy the potential benefits of the company's growth and success, as well as provide an additional incentive for their contributions to the company's overall performance. The plan offers various features and benefits for nonemployee directors, such as: 1. Stock Grant: Eligible directors may receive stock grants upon election or re-election to the board. The number of shares granted is determined by a predetermined formula or as approved by the company's board of directors. 2. Vesting and Ownership: The stock grants are subject to a vesting schedule, typically spread over multiple years. This ensures that the directors remain engaged with the company and its performance over the long term. Once vested, directors gain ownership of the granted shares. 3. Dividends and Voting Rights: Directors participating in the plan have the right to receive dividends on their vested shares, providing an additional stream of income. They also have voting rights, allowing them to actively participate in important corporate decisions. 4. Stock Appreciation: Since the stock plan offers ownership of the company's common stock, directors have the potential to benefit from its appreciation in value over time. This aligns their interests with those of shareholders, fostering a sense of ownership and commitment. 5. Termination and Change in Control: The plan outlines provisions for stock grants in the event of termination or a change in control of the company. This ensures that directors are properly rewarded for their service, even in various scenarios that might arise. It's important to note that the Kansas Nonemployee Directors Stock Plan may have different variations depending on the specific terms and conditions approved by Jacob Communications, Inc.'s board of directors. It's advisable for directors to thoroughly review the plan documents and consult with legal or financial advisors to fully understand their rights and obligations. In conclusion, the Kansas Nonemployee Directors Stock Plan of Jacob Communications, Inc. provides nonemployee directors with an opportunity to become shareholders and align their interests with the company's long-term success. Through stock grants, vesting schedules, dividends, voting rights, and potential stock appreciation, this plan serves as a valuable incentive, fostering director engagement and commitment to the company's growth.

The Kansas Nonemployee Directors Stock Plan is a program established by Jacob Communications, Inc. to provide stock ownership opportunities to nonemployee directors based in the state of Kansas. This plan is designed to align the interests of the board of directors with those of the company's shareholders, encouraging active participation and long-term commitment. Under the Kansas Nonemployee Directors Stock Plan, eligible directors have the opportunity to acquire shares of Jacob Communications, Inc.'s common stock. This allows them to enjoy the potential benefits of the company's growth and success, as well as provide an additional incentive for their contributions to the company's overall performance. The plan offers various features and benefits for nonemployee directors, such as: 1. Stock Grant: Eligible directors may receive stock grants upon election or re-election to the board. The number of shares granted is determined by a predetermined formula or as approved by the company's board of directors. 2. Vesting and Ownership: The stock grants are subject to a vesting schedule, typically spread over multiple years. This ensures that the directors remain engaged with the company and its performance over the long term. Once vested, directors gain ownership of the granted shares. 3. Dividends and Voting Rights: Directors participating in the plan have the right to receive dividends on their vested shares, providing an additional stream of income. They also have voting rights, allowing them to actively participate in important corporate decisions. 4. Stock Appreciation: Since the stock plan offers ownership of the company's common stock, directors have the potential to benefit from its appreciation in value over time. This aligns their interests with those of shareholders, fostering a sense of ownership and commitment. 5. Termination and Change in Control: The plan outlines provisions for stock grants in the event of termination or a change in control of the company. This ensures that directors are properly rewarded for their service, even in various scenarios that might arise. It's important to note that the Kansas Nonemployee Directors Stock Plan may have different variations depending on the specific terms and conditions approved by Jacob Communications, Inc.'s board of directors. It's advisable for directors to thoroughly review the plan documents and consult with legal or financial advisors to fully understand their rights and obligations. In conclusion, the Kansas Nonemployee Directors Stock Plan of Jacob Communications, Inc. provides nonemployee directors with an opportunity to become shareholders and align their interests with the company's long-term success. Through stock grants, vesting schedules, dividends, voting rights, and potential stock appreciation, this plan serves as a valuable incentive, fostering director engagement and commitment to the company's growth.