New Mexico Eligible Directors' Stock Option Plan of Wyle Electronics

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-362C
• Format: Word; Rich Text

Description

18-362C 18-362C . . . Eligible Directors' Stock Option Plan under which (a) each outside director who was in office on October 1, 1996 was granted, subject to stockholder approval of Plan, option to purchase 4,000 shares of stock and each outside director who first takes office after October 1, 1996 will receive a one-time initial option to purchase 10,000 shares of stock, and (b) each outside director in office on October 1, 1996 will be granted an option on April 1 of each year commencing in 1997 to purchase 4,000 shares of stock provided he or she is in office on date of grant, and each outside director who takes office after October 1, 1996 will be granted an option on April 1 of each year to purchase 6,000 shares of stock provided he or she is in office on date of grant. Exercise price of all options is fair market value on date of grant. All options are exercisable six months after date of grant The New Mexico Eligible Directors' Stock Option Plan of Kyle Electronics is a specific stock option plan designed for directors who are eligible to participate in the plan. This plan provides an opportunity for eligible directors to purchase company stock at a predetermined price, enabling them to benefit from any potential future appreciation in the company's stock value. Under this stock option plan, the eligible directors are granted the right to purchase a specified number of company shares within a specific period of time, usually at a discounted price or the market price on the date of grant. This allows directors to align their interests with those of the company's shareholders, as they will financially benefit from any increase in the company's stock price. The New Mexico Eligible Directors' Stock Option Plan may have different variations or types, depending on the specific terms and conditions set by Kyle Electronics. These variations may include: 1. Vesting Schedule: The plan may have a vesting schedule, which determines when the directors gain full ownership of the stock options. Vesting periods can range from immediate vesting to gradual vesting over a specified period of time, typically years, encouraging directors to remain committed to the company's success. 2. Exercise Price: The exercise price refers to the price at which directors can purchase the company's stock. The plan might specify a fixed exercise price or provide flexibility for the exercise price to be determined based on certain factors, such as the current market price. 3. Exercise Period: This determines the time period during which directors can exercise their stock options. It often starts after a certain period of time has elapsed since the grant date and typically has an expiration date, after which the options cannot be exercised. 4. Stock Option Limitations: The plan might impose limitations on the number of stock options that can be granted to directors, either on an annual basis or throughout their tenure as an eligible director. 5. Change of Control Provision: This provision specifies how the stock options will be affected in the event of a change in control, such as a merger or acquisition. It may allow for early vesting or accelerated excitability in certain circumstances. The New Mexico Eligible Directors' Stock Option Plan of Kyle Electronics is designed to attract and retain talented directors by providing them with a financial incentive to contribute to the company's long-term success. Directors who participate in this plan have an opportunity to share in the company's growth and align their interests with shareholders.

The New Mexico Eligible Directors' Stock Option Plan of Kyle Electronics is a specific stock option plan designed for directors who are eligible to participate in the plan. This plan provides an opportunity for eligible directors to purchase company stock at a predetermined price, enabling them to benefit from any potential future appreciation in the company's stock value. Under this stock option plan, the eligible directors are granted the right to purchase a specified number of company shares within a specific period of time, usually at a discounted price or the market price on the date of grant. This allows directors to align their interests with those of the company's shareholders, as they will financially benefit from any increase in the company's stock price. The New Mexico Eligible Directors' Stock Option Plan may have different variations or types, depending on the specific terms and conditions set by Kyle Electronics. These variations may include: 1. Vesting Schedule: The plan may have a vesting schedule, which determines when the directors gain full ownership of the stock options. Vesting periods can range from immediate vesting to gradual vesting over a specified period of time, typically years, encouraging directors to remain committed to the company's success. 2. Exercise Price: The exercise price refers to the price at which directors can purchase the company's stock. The plan might specify a fixed exercise price or provide flexibility for the exercise price to be determined based on certain factors, such as the current market price. 3. Exercise Period: This determines the time period during which directors can exercise their stock options. It often starts after a certain period of time has elapsed since the grant date and typically has an expiration date, after which the options cannot be exercised. 4. Stock Option Limitations: The plan might impose limitations on the number of stock options that can be granted to directors, either on an annual basis or throughout their tenure as an eligible director. 5. Change of Control Provision: This provision specifies how the stock options will be affected in the event of a change in control, such as a merger or acquisition. It may allow for early vesting or accelerated excitability in certain circumstances. The New Mexico Eligible Directors' Stock Option Plan of Kyle Electronics is designed to attract and retain talented directors by providing them with a financial incentive to contribute to the company's long-term success. Directors who participate in this plan have an opportunity to share in the company's growth and align their interests with shareholders.