North Dakota 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

North Dakota Employee Stock Option Plan of Vivien, Inc.: A Comprehensive Overview Vivien, Inc., a prominent company in North Dakota, offers its employees the opportunity to participate in its Employee Stock Option Plan (ESOP). This plan ensures that the company's workforce actively shares in its growth and success, aligning their interests with those of the organization. By granting employees the right to purchase company stocks at a predetermined price within a specified timeframe, the ESOP encourages long-term commitment and enhances employee engagement. Key Features of the North Dakota Employee Stock Option Plan: 1. Employee Eligibility: The ESOP is designed to benefit all eligible Vivien, Inc. employees, including full-time, part-time, and certain temporary employees. Eligibility criteria may vary, and it is advisable to consult the official plan documents or HR department for specific details. 2. Stock Option Grant: These grants provide employees with the opportunity to acquire a specified number of shares at a predetermined exercise price. Vivien, Inc. may set vesting schedules, typically spanning several years, to incentivize employee retention and loyalty. 3. Exercise Period: The ESOP allows employees to exercise their stock options within a specified time frame, usually following a vesting schedule. Employees must closely monitor the exercise window to ensure they maximize the benefits of their stock options. 4. Tax Considerations: It is important for employees to understand the potential tax implications of participating in the ESOP. Specific tax rules and regulations may apply, and seeking professional advice may be crucial to make informed decisions regarding stock option exercises and subsequent stock sales. 5. Corporate Events: In the event of a merger, acquisition, or other significant corporate transactions, the ESOP may provide employees with specific rights and protections. Understanding these provisions is vital to safeguarding employee interests during such transitions. Additionally, Vivien, Inc. may offer different variations of the ESOP, depending on the position or level of the employee. These variations may include: 1. Executive Stock Option Plans: These plans primarily cater to top-level executives, providing them with unique stock option offerings tailored to their roles and responsibilities. 2. Incentive Stock Option Plans: Aimed at motivating high-performing employees, these plans seek to reward exceptional contributions by providing additional stock options or favorable terms. 3. 401(k) Stock Option Plans: Vivien, Inc. might integrate the ESOP with its 401(k) retirement plan, allowing employees to allocate a portion of their retirement savings towards the purchase of company stocks within the plan. The North Dakota Employee Stock Option Plan of Vivien, Inc. acts as a powerful tool for attracting top talent, motivating employee performance, and fostering a sense of ownership among its workforce. It offers various opportunities for employees to build wealth, align their goals with the organization, and participate in the long-term success of the company.