Kentucky Nonemployee Directors Stock Option Plan of National Surgery Centers, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-185C
• Format: Word; Rich Text

Description

18-185C 18-185C . . . Non-employee Directors Stock Option Plan under which Class II Non-employee directors receive options for 5,000 shares, all fully vested; Class II Non-employee directors receive options for 7,500 shares, of which 5,000 are fully vested and 2,500 vest on date of 1997 annual stockholders meeting; and Class I Non-employee directors receive options for 10,000 shares, of which 5,000 are fully vested, 2,500 vest on date of 1997 annual stockholders meeting, and 2,500 vest on date of 1998 annual stockholders meeting. Thereafter, each Non-employee director automatically receives an option on his or her election or re-election as director. Each such option is for 7,500 shares if director is elected to full three year term, of which 2,500 is vested, 2,500 vests on first anniversary of grant, and 2,500 vests on second anniversary of grant. If director is elected to fill term of less than three years, number of shares is equal to 2,500 for each full year of his or her term The Kentucky Nonemployee Directors Stock Option Plan is a unique offering provided by National Surgery Centers, Inc. to its nonemployee directors based in Kentucky. This plan aims to provide a comprehensive stock option package to nonemployee directors as a form of compensation. With the plan, these directors are granted the opportunity to purchase company stocks at a pre-determined price within a specified time frame. National Surgery Centers, Inc. understands the importance of rewarding its nonemployee directors for their valuable contributions, and the Kentucky Nonemployee Directors Stock Option Plan serves as an excellent incentive. By granting stock options, the company encourages these directors to actively participate in the organization's growth and success. There are several types of Kentucky Nonemployee Directors Stock Option Plans available under National Surgery Centers, Inc. These include: 1. Standard Stock Option Plan: — This plan grants nonemployee directors the right to purchase company stocks at a pre-determined price, known as the exercise price, within a specified timeframe. 2. Incentive Stock Option Plan: — In addition to the standard benefits provided by the Kentucky Nonemployee Directors Stock Option Plan, this plan offers tax advantages to the participating nonemployee directors. It allows them to purchase company stocks at a discounted price, avoiding immediate tax liability on the difference between the market price and exercise price. 3. Performance-Based Stock Option Plan: — Under this unique plan, nonemployee directors have the opportunity to earn additional stock options based on the achievement of predetermined performance goals set by National Surgery Centers, Inc. The attainment of these goals could lead to increased stock options, providing additional motivation for the directors to contribute to the company's success. 4. Restricted Stock Option Plan: — This plan offers nonemployee directors the chance to acquire company stocks at a discounted price, subject to certain restrictions or vesting periods. It provides an extra layer of incentive, as the directors must meet specific requirements or milestones to fully access their stock options. 5. Stock Appreciation Right (SAR) Option Plan: — In this plan, instead of purchasing company stocks at a predefined price, nonemployee directors are granted the right to receive the appreciation value of the stocks between the date of grant and the exercise date, effectively providing a cash-equivalent benefit. The Kentucky Nonemployee Directors Stock Option Plan serves as an excellent way for National Surgery Centers, Inc. to attract and retain experienced individuals for its board of directors. Through these varied plans, the company ensures that the nonemployee directors have the opportunity to share in the company's success while aligning their interests with those of the shareholders.

The Kentucky Nonemployee Directors Stock Option Plan is a unique offering provided by National Surgery Centers, Inc. to its nonemployee directors based in Kentucky. This plan aims to provide a comprehensive stock option package to nonemployee directors as a form of compensation. With the plan, these directors are granted the opportunity to purchase company stocks at a pre-determined price within a specified time frame. National Surgery Centers, Inc. understands the importance of rewarding its nonemployee directors for their valuable contributions, and the Kentucky Nonemployee Directors Stock Option Plan serves as an excellent incentive. By granting stock options, the company encourages these directors to actively participate in the organization's growth and success. There are several types of Kentucky Nonemployee Directors Stock Option Plans available under National Surgery Centers, Inc. These include: 1. Standard Stock Option Plan: — This plan grants nonemployee directors the right to purchase company stocks at a pre-determined price, known as the exercise price, within a specified timeframe. 2. Incentive Stock Option Plan: — In addition to the standard benefits provided by the Kentucky Nonemployee Directors Stock Option Plan, this plan offers tax advantages to the participating nonemployee directors. It allows them to purchase company stocks at a discounted price, avoiding immediate tax liability on the difference between the market price and exercise price. 3. Performance-Based Stock Option Plan: — Under this unique plan, nonemployee directors have the opportunity to earn additional stock options based on the achievement of predetermined performance goals set by National Surgery Centers, Inc. The attainment of these goals could lead to increased stock options, providing additional motivation for the directors to contribute to the company's success. 4. Restricted Stock Option Plan: — This plan offers nonemployee directors the chance to acquire company stocks at a discounted price, subject to certain restrictions or vesting periods. It provides an extra layer of incentive, as the directors must meet specific requirements or milestones to fully access their stock options. 5. Stock Appreciation Right (SAR) Option Plan: — In this plan, instead of purchasing company stocks at a predefined price, nonemployee directors are granted the right to receive the appreciation value of the stocks between the date of grant and the exercise date, effectively providing a cash-equivalent benefit. The Kentucky Nonemployee Directors Stock Option Plan serves as an excellent way for National Surgery Centers, Inc. to attract and retain experienced individuals for its board of directors. Through these varied plans, the company ensures that the nonemployee directors have the opportunity to share in the company's success while aligning their interests with those of the shareholders.