Maine Stock Option Agreement of Full House Resorts, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-363D
• Format: Word; Rich Text

Description

18-363D 18-363D . . . Stock Option Agreement under which corporation grants to optionee a Non-qualified Option to acquire 50,000 shares of stock immediately and an additional 50,000 shares on each of the next four anniversaries of the date of grant. The options become fully exercisable upon a change of control and they expire 5 years from the date of grant or 90 days after the optionee ceases to be a director Maine Stock Option Agreement of Full House Resorts, Inc. is a legal document that outlines the terms and conditions related to stock option grants issued by Full House Resorts, Inc. in the state of Maine. It sets forth the rights, responsibilities, and limitations of both the company and the option holder. The Maine Stock Option Agreement grants individuals the opportunity to purchase a specific number of shares of Full House Resorts, Inc. stock at a predetermined price, within a specified timeframe. This option is typically given to employees, directors, or consultants as a form of incentive compensation, aligning their interests with the company's performance. The agreement defines key details such as the option grant date, exercise price, vesting schedule, expiration date, and any additional terms and conditions. The exercise price is the predetermined price at which the option holder can buy the stock in the future, regardless of its market value at that time. The Maine Stock Option Agreement may also differentiate between different types of stock options, such as incentive stock options (SOS) and non-qualified stock options (SOS). SOS provide certain tax advantages, subject to compliance with specific Internal Revenue Service (IRS) rules, including holding periods and exercise limits. SOS, on the other hand, do not have the same tax advantages but offer greater flexibility and are often granted to non-employee individuals. This agreement serves as a legal contract between Full House Resorts, Inc. and the option holder, protecting the rights of both parties involved. It ensures that the option holder fully understands the terms and conditions associated with exercising their stock options, including any restrictions on transferability or rights in the event of termination or change in control. By providing eligible individuals with stock options, Full House Resorts, Inc. aims to attract and retain top talent, incentivize key personnel, and align their interests with the long-term success of the company. The Maine Stock Option Agreement is an essential tool for executing these incentive programs, providing clear guidelines and protections for all parties involved. Overall, the Maine Stock Option Agreement of Full House Resorts, Inc. is a critical legal document that establishes the terms and conditions surrounding stock option grants in the state of Maine, serving as a valuable tool for incentivizing and retaining key individuals within the company.

Maine Stock Option Agreement of Full House Resorts, Inc. is a legal document that outlines the terms and conditions related to stock option grants issued by Full House Resorts, Inc. in the state of Maine. It sets forth the rights, responsibilities, and limitations of both the company and the option holder. The Maine Stock Option Agreement grants individuals the opportunity to purchase a specific number of shares of Full House Resorts, Inc. stock at a predetermined price, within a specified timeframe. This option is typically given to employees, directors, or consultants as a form of incentive compensation, aligning their interests with the company's performance. The agreement defines key details such as the option grant date, exercise price, vesting schedule, expiration date, and any additional terms and conditions. The exercise price is the predetermined price at which the option holder can buy the stock in the future, regardless of its market value at that time. The Maine Stock Option Agreement may also differentiate between different types of stock options, such as incentive stock options (SOS) and non-qualified stock options (SOS). SOS provide certain tax advantages, subject to compliance with specific Internal Revenue Service (IRS) rules, including holding periods and exercise limits. SOS, on the other hand, do not have the same tax advantages but offer greater flexibility and are often granted to non-employee individuals. This agreement serves as a legal contract between Full House Resorts, Inc. and the option holder, protecting the rights of both parties involved. It ensures that the option holder fully understands the terms and conditions associated with exercising their stock options, including any restrictions on transferability or rights in the event of termination or change in control. By providing eligible individuals with stock options, Full House Resorts, Inc. aims to attract and retain top talent, incentivize key personnel, and align their interests with the long-term success of the company. The Maine Stock Option Agreement is an essential tool for executing these incentive programs, providing clear guidelines and protections for all parties involved. Overall, the Maine Stock Option Agreement of Full House Resorts, Inc. is a critical legal document that establishes the terms and conditions surrounding stock option grants in the state of Maine, serving as a valuable tool for incentivizing and retaining key individuals within the company.