North Carolina Amended and Restated Stock Option Plan of L. Luria and Son, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-256
• Format: Word; Rich Text

Description

This is a multi-state form covering the subject matter of the title. The North Carolina Amended and Restated Stock Option Plan of L. Luria and Son, Inc. is a comprehensive and flexible compensation program offered to eligible employees of the company based in North Carolina. This plan is designed to incentivize and reward employees by granting them the opportunity to purchase company stock at a specified price, known as the exercise price, within a designated timeframe. Key Features: 1. Eligibility: The plan covers employees of L. Luria and Son, Inc. who meet specific criteria as determined by the company's Board of Directors. Eligible employees may include full-time, part-time, and temporary staff, as well as executives and directors. 2. Stock Options: The plan offers employees the right to purchase company stock at a predetermined price. These options can be categorized into two types: a. Incentive Stock Options (SOS): SOS are granted with certain tax advantages and are subject to specific rules outlined by the Internal Revenue Code. b. Non-Qualified Stock Options (Nests): Nests do not come with the same tax advantages as SOS, but they offer greater flexibility in terms of eligibility and exercise price. 3. Granting and Vesting: The plan specifies the process through which stock options are granted to eligible employees. Vesting periods, which determine when employees can exercise their options, may depend on various factors such as years of service or performance achievements. 4. Exercise Price: The plan establishes the exercise price, which is the cost at which employees can purchase company stock. This price is typically set at fair market value or a discount determined by the Board of Directors. 5. Exercise Period: There is a defined exercise period during which employees can choose to exercise their stock options. This period is typically set to ensure alignment with company goals and may include specific windows or deadlines to prevent market manipulation. 6. Stock Option Pool: The plan may also create a stock option pool, indicating the number of shares reserved exclusively for stock option grants to employees. The size of the pool is determined by the company's objectives and considerations such as future hiring and expansion plans. The North Carolina Amended and Restated Stock Option Plan of L. Luria and Son, Inc. aims to provide employees with a sense of ownership and motivation to drive the company's success. It aligns the interests of employees with those of the shareholders, fostering loyalty, commitment, and a shared focus on long-term growth. (Note: It is uncertain if there are different types of this specific stock option plan as no variations were mentioned in the provided context. However, it is possible that L. Luria and Son, Inc. has multiple stock option plans to cater to different employee groups or objectives.)

The North Carolina Amended and Restated Stock Option Plan of L. Luria and Son, Inc. is a comprehensive and flexible compensation program offered to eligible employees of the company based in North Carolina. This plan is designed to incentivize and reward employees by granting them the opportunity to purchase company stock at a specified price, known as the exercise price, within a designated timeframe. Key Features: 1. Eligibility: The plan covers employees of L. Luria and Son, Inc. who meet specific criteria as determined by the company's Board of Directors. Eligible employees may include full-time, part-time, and temporary staff, as well as executives and directors. 2. Stock Options: The plan offers employees the right to purchase company stock at a predetermined price. These options can be categorized into two types: a. Incentive Stock Options (SOS): SOS are granted with certain tax advantages and are subject to specific rules outlined by the Internal Revenue Code. b. Non-Qualified Stock Options (Nests): Nests do not come with the same tax advantages as SOS, but they offer greater flexibility in terms of eligibility and exercise price. 3. Granting and Vesting: The plan specifies the process through which stock options are granted to eligible employees. Vesting periods, which determine when employees can exercise their options, may depend on various factors such as years of service or performance achievements. 4. Exercise Price: The plan establishes the exercise price, which is the cost at which employees can purchase company stock. This price is typically set at fair market value or a discount determined by the Board of Directors. 5. Exercise Period: There is a defined exercise period during which employees can choose to exercise their stock options. This period is typically set to ensure alignment with company goals and may include specific windows or deadlines to prevent market manipulation. 6. Stock Option Pool: The plan may also create a stock option pool, indicating the number of shares reserved exclusively for stock option grants to employees. The size of the pool is determined by the company's objectives and considerations such as future hiring and expansion plans. The North Carolina Amended and Restated Stock Option Plan of L. Luria and Son, Inc. aims to provide employees with a sense of ownership and motivation to drive the company's success. It aligns the interests of employees with those of the shareholders, fostering loyalty, commitment, and a shared focus on long-term growth. (Note: It is uncertain if there are different types of this specific stock option plan as no variations were mentioned in the provided context. However, it is possible that L. Luria and Son, Inc. has multiple stock option plans to cater to different employee groups or objectives.)