Louisiana Stock Option Plan of Hayes Wheels International, Inc., which provides for grant of Incentive Stock Options and Nonqualified Stock Options

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-345E
• Format: Word; Rich Text

Description

18-345E 18-345E . . . Stock Option Plan which provides for grant of Incentive Stock Options and Non-qualified Stock Options and (b) initial option grants to certain named officers, employees and consultants which contain specific Time Conditions and Performance Conditions as follows: number of shares underlying each option grant is divided into five equal portions which are designated Tranche A through Tranche E. Twenty percent of shares included in each of Tranches A through E shall satisfy Time Condition if optionee is employee or consultant on January 31, 1997 and on each January 31 thereafter. One hundred percent of shares included in each of Tranches A through E satisfy Performance Condition if average per share price of common stock for any consecutive twenty trading days on principal exchange on which common stock is traded equals or exceeds following prices: Tranche A - $16 per share, Tranche B - $32 per share, Tranche C - $48 per share, Tranche D - $64 per share, Tranche E - $80 per share. Notwithstanding above, Initial Grants become fully exercisable on ninth anniversary of date of grant Louisiana Stock Option Plan of Hayes Wheels International, Inc. Hayes Wheels International, Inc., a company based in Louisiana, provides its employees with a comprehensive stock option plan known as the Louisiana Stock Option Plan. This plan offers two types of stock options to eligible employees: Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). 1. Incentive Stock Options (SOS): The Louisiana Stock Option Plan of Hayes Wheels International, Inc. provides for the grant of SOS to eligible employees. SOS are stock options that can only be offered to specific employees designated by the company. These options come with certain tax advantages, as they are taxed at a potentially lower rate compared to SOS. To qualify for SOS, employees must meet specific eligibility criteria outlined in the plan. SOS provide employees with the right to purchase company stock at a predetermined exercise price. 2. Nonqualified Stock Options (SOS): The Louisiana Stock Option Plan also includes the provision for the grant of SOS to eligible employees. SOS are stock options that can be offered to a broader group of employees, including executives, employees, and consultants. Unlike SOS, SOS do not offer any special tax advantages and are subject to ordinary income tax rates when exercised. SOS also provide employees with the right to purchase company stock at a predetermined exercise price. Hayes Wheels International, Inc. has designed its Louisiana Stock Option Plan to incentivize and reward employees for their contributions to the company's success. By granting both SOS and SOS, the plan caters to different levels of employees and provides them with an opportunity to participate in the company's growth and financial success. It is important to note that the specific terms and conditions of the Louisiana Stock Option Plan may vary and are subject to the company's discretion. Employees should refer to the official plan documents and consult with their Human Resources department or legal advisors for accurate and up-to-date details regarding their eligibility, vesting schedules, exercise prices, and any other relevant provisions outlined in the plan.

Louisiana Stock Option Plan of Hayes Wheels International, Inc. Hayes Wheels International, Inc., a company based in Louisiana, provides its employees with a comprehensive stock option plan known as the Louisiana Stock Option Plan. This plan offers two types of stock options to eligible employees: Incentive Stock Options (SOS) and Nonqualified Stock Options (SOS). 1. Incentive Stock Options (SOS): The Louisiana Stock Option Plan of Hayes Wheels International, Inc. provides for the grant of SOS to eligible employees. SOS are stock options that can only be offered to specific employees designated by the company. These options come with certain tax advantages, as they are taxed at a potentially lower rate compared to SOS. To qualify for SOS, employees must meet specific eligibility criteria outlined in the plan. SOS provide employees with the right to purchase company stock at a predetermined exercise price. 2. Nonqualified Stock Options (SOS): The Louisiana Stock Option Plan also includes the provision for the grant of SOS to eligible employees. SOS are stock options that can be offered to a broader group of employees, including executives, employees, and consultants. Unlike SOS, SOS do not offer any special tax advantages and are subject to ordinary income tax rates when exercised. SOS also provide employees with the right to purchase company stock at a predetermined exercise price. Hayes Wheels International, Inc. has designed its Louisiana Stock Option Plan to incentivize and reward employees for their contributions to the company's success. By granting both SOS and SOS, the plan caters to different levels of employees and provides them with an opportunity to participate in the company's growth and financial success. It is important to note that the specific terms and conditions of the Louisiana Stock Option Plan may vary and are subject to the company's discretion. Employees should refer to the official plan documents and consult with their Human Resources department or legal advisors for accurate and up-to-date details regarding their eligibility, vesting schedules, exercise prices, and any other relevant provisions outlined in the plan.