New Mexico Stock Incentive Plan of Ambase Corp.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-350A
• Format: Word; Rich Text

Description

18-350A 18-350A . . . Stock Incentive Plan which provides for issuance of (a) incentive stock options, (b) Non-qualified Stock Options, (c) stock appreciation rights, (d) restricted stock, (e) unrestricted stock, and (f) performance shares. The Plan permits optionees to pay exercise price of options (i) in cash, (ii) in shares of corporation common stock already owned by optionee, (iii) with combination of cash and shares, (iv) by "pyramiding" shares or (v) by effecting a "cashless exercise". "Pyramiding" is technique whereby optionee requests issuer to automatically apply portion of shares received upon exercise of stock option to satisfy exercise price of additional stock options, resulting in multiple simultaneous exercises of options by use of shares as payment. A "cashless exercise" is technique which allows optionee to exercise stock options without cash through assistance of broker through either simultaneous exercise and sale or broker loan

The New Mexico Stock Incentive Plan of Abase Corp., commonly known as the Abase Stock Plan, is a comprehensive compensation program aimed at motivating and rewarding key employees of the company. This plan allows Abasing Corp. to offer stock-based incentives to employees in New Mexico. It is designed to attract and retain top talent, align employee interests with those of the shareholders, and drive the company's long-term growth and success. The Abase Stock Plan offers various types of stock-based incentives, including stock options, restricted stock units (RSS), performance-based stock units (Plus), and stock appreciation rights (SARS). Each type is tailored to meet specific objectives and offers different benefits to the participants. Stock options grant employees the right to purchase a specific number of company shares at a predetermined price, known as the exercise price, within a specified timeframe. These options are usually granted at a discount or fair market value and provide employees with the opportunity to profit from the appreciation of the company's stock over time. Restricted stock units (RSS) are granted to employees as a form of compensation and are usually subject to a vesting schedule. Once the RSS vest, they convert into actual shares of the company's stock, which employees can hold or sell as they deem fit. Performance-based stock units (Plus) are tied to specific performance goals or metrics established by Abase Corp. These goals may include financial targets, market share growth, or other key performance indicators. Employees receive Plus based on the achievement of these performance goals, and they convert into shares once the targets are met. Stock appreciation rights (SARS) provide employees with the opportunity to receive the appreciation in the company's stock value without actually owning the stock itself. When exercises, SARS provide employees with a cash settlement equivalent to the difference between the current stock price and the exercise price. The New Mexico Stock Incentive Plan of Abase Corp. serves as a powerful tool for attracting and retaining top talent in the competitive marketplace. By offering stock-based incentives, employees have a vested interest in the company's success, which helps drive performance, employee loyalty, and overall shareholder value. This plan plays a crucial role in securing the ongoing growth and success of Abase Corp. by aligning the interests of the employees and the shareholders.