New York 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 The New York Employee Stock Option Plan of Vivien, Inc. is a compensation program offered to employees of the company, providing them with the opportunity to purchase company stock at a predetermined price within a specified timeframe. This plan serves as an incentive for employees, encouraging them to contribute to the company's growth and align their interests with those of the shareholders. The plan is designed to attract, retain, and motivate talented individuals by offering them the potential to share in the company's success. Under the New York Employee Stock Option Plan, employees are granted the right to buy a specific number of company shares, known as stock options, at a predetermined strike price. The strike price is typically set at the current market value of the company's stock on the grant date, ensuring fairness and equity. The options usually have a vesting period, where employees gradually gain ownership of the options over time, which incentivizes their loyalty and long-term commitment to the company. There are two main types of stock options commonly offered under the plan: 1. Incentive Stock Options (SOS): These options provide certain tax advantages for employees by being eligible for preferential tax treatment if certain conditions are met. To qualify for SOS, employees must meet specific IRS requirements, such as being employed by the company for a minimum period and not selling the shares within a specific timeframe. 2. Non-Qualified Stock Options (SOS): Unlike SOS, SOS do not qualify for preferential tax treatment and are subject to regular income tax upon exercise. SOS offer greater flexibility in terms of eligibility criteria, as they can be granted to employees, directors, consultants, and contractors. The New York Employee Stock Option Plan of Vivien, Inc. ensures that employees have a vested interest in the overall success of the company by tying their compensation directly to the performance of the stock. It aligns the interests of employees and shareholders, fostering a culture of ownership and encouraging employees to work towards the company's growth and profitability. This plan is a valuable tool for attracting and retaining top talent, as it offers both financial incentives and a sense of ownership in the company's success.

The New York Employee Stock Option Plan of Vivien, Inc. is a compensation program offered to employees of the company, providing them with the opportunity to purchase company stock at a predetermined price within a specified timeframe. This plan serves as an incentive for employees, encouraging them to contribute to the company's growth and align their interests with those of the shareholders. The plan is designed to attract, retain, and motivate talented individuals by offering them the potential to share in the company's success. Under the New York Employee Stock Option Plan, employees are granted the right to buy a specific number of company shares, known as stock options, at a predetermined strike price. The strike price is typically set at the current market value of the company's stock on the grant date, ensuring fairness and equity. The options usually have a vesting period, where employees gradually gain ownership of the options over time, which incentivizes their loyalty and long-term commitment to the company. There are two main types of stock options commonly offered under the plan: 1. Incentive Stock Options (SOS): These options provide certain tax advantages for employees by being eligible for preferential tax treatment if certain conditions are met. To qualify for SOS, employees must meet specific IRS requirements, such as being employed by the company for a minimum period and not selling the shares within a specific timeframe. 2. Non-Qualified Stock Options (SOS): Unlike SOS, SOS do not qualify for preferential tax treatment and are subject to regular income tax upon exercise. SOS offer greater flexibility in terms of eligibility criteria, as they can be granted to employees, directors, consultants, and contractors. The New York Employee Stock Option Plan of Vivien, Inc. ensures that employees have a vested interest in the overall success of the company by tying their compensation directly to the performance of the stock. It aligns the interests of employees and shareholders, fostering a culture of ownership and encouraging employees to work towards the company's growth and profitability. This plan is a valuable tool for attracting and retaining top talent, as it offers both financial incentives and a sense of ownership in the company's success.