Maine Employee Stock Option Plan of Vivigen, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-148
• Format: Word; Rich Text

Description

18-148 18-148 . . . Employee Stock Option Plan which recognizes eight levels of responsibility within corporation and which provides that each eligible employee shall receive stock option to purchase that number of shares of corporation common stock that is equal to number derived by dividing option value corresponding to his or her level of responsibility by initial grant price (fair market value on date of grant) according to schedule which ranges from technical and administrative personnel levels one through four with option values from $1,250 through $5,000 to Chief Executive Officer level eight with option value of $100,000. Options are exercisable for up to (a) 50% of shares covered by option at any time after corporation's gross revenues meet or exceed a 30% increase for each of two consecutive calendar years ending following grant of option and (b) 100% of shares covered by option at any time after corporation's gross revenues meet or exceed a 40% increase for each of two consecutive calendar years following grant of stock option Maine Employee Stock Option Plan of Vivien, Inc., also known as AESOP, is a comprehensive employee benefit program offered by Vivien, Inc., a prominent company based in Maine. The plan aims to provide employees with an opportunity to own a stake in the company and align their interests with the long-term success of Vivien. Through AESOP, eligible employees are granted stock options, allowing them to purchase shares of Vivien stock at a predetermined price, known as the exercise price. These stock options typically come with a vesting schedule, which indicates the period of time an employee must work for the company before being able to exercise the options. By participating in the AESOP, employees have the potential to share in the growth and success of Vivien, Inc. Additionally, these stock options serve as a strong incentive for employees to contribute their best efforts towards achieving the company's goals. There are different types of AESOP that employees can be offered, including incentive stock options (SOS) and non-qualified stock options (Nests). Both options provide unique advantages and may have different tax implications for employees. SOS are typically offered to key employees and provide certain tax advantages. If the employee meets specific holding period requirements, the gains from exercising SOS may be eligible for capital gains tax rates, which could result in potentially significant tax savings. On the other hand, Nests may be offered to a broader range of employees and do not come with the same tax advantages as SOS. Upon exercising Nests, the employee may be subject to ordinary income tax rates on the difference between the exercise price and the fair market value of the stock at the time of exercise. Overall, the AESOP offered by Vivien, Inc. presents an exciting opportunity for employees to become equity owners in the company and actively participate in its growth and success. It serves as a powerful incentive to attract, motivate, and retain talented individuals, while fostering a sense of loyalty and dedication among the workforce.

Maine Employee Stock Option Plan of Vivien, Inc., also known as AESOP, is a comprehensive employee benefit program offered by Vivien, Inc., a prominent company based in Maine. The plan aims to provide employees with an opportunity to own a stake in the company and align their interests with the long-term success of Vivien. Through AESOP, eligible employees are granted stock options, allowing them to purchase shares of Vivien stock at a predetermined price, known as the exercise price. These stock options typically come with a vesting schedule, which indicates the period of time an employee must work for the company before being able to exercise the options. By participating in the AESOP, employees have the potential to share in the growth and success of Vivien, Inc. Additionally, these stock options serve as a strong incentive for employees to contribute their best efforts towards achieving the company's goals. There are different types of AESOP that employees can be offered, including incentive stock options (SOS) and non-qualified stock options (Nests). Both options provide unique advantages and may have different tax implications for employees. SOS are typically offered to key employees and provide certain tax advantages. If the employee meets specific holding period requirements, the gains from exercising SOS may be eligible for capital gains tax rates, which could result in potentially significant tax savings. On the other hand, Nests may be offered to a broader range of employees and do not come with the same tax advantages as SOS. Upon exercising Nests, the employee may be subject to ordinary income tax rates on the difference between the exercise price and the fair market value of the stock at the time of exercise. Overall, the AESOP offered by Vivien, Inc. presents an exciting opportunity for employees to become equity owners in the company and actively participate in its growth and success. It serves as a powerful incentive to attract, motivate, and retain talented individuals, while fostering a sense of loyalty and dedication among the workforce.