Ohio Nonemployee Directors Stock Plan of Jacor Communications, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-282A
• Format: Word; Rich Text

Description

18-282A 18-282A . . . Non-employee Director Stock Plan under which Board of Directors can grant (a) Non-qualified Stock Options, (b) Restricted Stock, (c) Stock Appreciation Rights, (d) Performance Units, (e) Performance Shares, and (f) other stock units to Non-employee directors The Ohio Nonemployee Directors Stock Plan of Jacob Communications, Inc. is a comprehensive compensation program designed for nonemployee directors serving on the company's board. This plan aims to attract and retain top-tier talent by offering them an opportunity to acquire and hold Jacob Communications' stock. As an equity-based compensation plan, the Ohio Nonemployee Directors Stock Plan grants nonemployee directors the right to purchase shares of Jacob Communications' common stock at a predetermined price known as the exercise price. This plan serves as an incentive for directors to align their interests with the company's long-term growth and success, thus fostering a stronger commitment to shareholder value. Under the Ohio Nonemployee Directors Stock Plan, nonemployee directors are typically awarded stock options or restricted stock units (RSS). Stock options give directors the right to purchase a specified number of shares at the exercise price within a predetermined period. RSS, on the other hand, represents the right to receive shares of Jacob Communications' stock at a future date, subject to certain vesting conditions. The Ohio Nonemployee Directors Stock Plan of Jacob Communications, Inc. is governed by specific terms and conditions outlined in the plan document. It establishes eligibility requirements, grant guidelines, vesting schedules, and other important provisions. These provisions aim to ensure fairness, transparency, and alignment with company goals. Key features of the Ohio Nonemployee Directors Stock Plan include: 1. Eligibility: This program is available exclusively to nonemployee directors of Jacob Communications, Inc. Employees of the company are typically not eligible for participation. 2. Grants and Vesting: Nonemployee directors may be granted stock options or RSS upon appointment or at regular intervals. These awards usually vest over a specific period, often subject to continued service or performance goals. 3. Exercise or Settlement: Once vested, stock options can be exercised by directors to purchase Jacob Communications' stock. RSS, upon vesting, are typically settled in shares of the company's common stock. 4. Exercise Price: The exercise price for stock options is determined at the time of grant and is usually based on the fair market value of Jacob Communications' stock on that date. 5. Term and Termination: The plan specifies the duration or term during which stock options can be exercised. It further outlines the treatment of equity awards in case of a director's death, disability, retirement, or termination. By introducing the Ohio Nonemployee Directors Stock Plan, Jacob Communications, Inc. aims to incentivize nonemployee directors to contribute their expertise, judgment, and commitment to the company's strategic objectives. This compensation program enhances alignment between directors and shareholders, driving long-term sustainable growth and shareholder value.

The Ohio Nonemployee Directors Stock Plan of Jacob Communications, Inc. is a comprehensive compensation program designed for nonemployee directors serving on the company's board. This plan aims to attract and retain top-tier talent by offering them an opportunity to acquire and hold Jacob Communications' stock. As an equity-based compensation plan, the Ohio Nonemployee Directors Stock Plan grants nonemployee directors the right to purchase shares of Jacob Communications' common stock at a predetermined price known as the exercise price. This plan serves as an incentive for directors to align their interests with the company's long-term growth and success, thus fostering a stronger commitment to shareholder value. Under the Ohio Nonemployee Directors Stock Plan, nonemployee directors are typically awarded stock options or restricted stock units (RSS). Stock options give directors the right to purchase a specified number of shares at the exercise price within a predetermined period. RSS, on the other hand, represents the right to receive shares of Jacob Communications' stock at a future date, subject to certain vesting conditions. The Ohio Nonemployee Directors Stock Plan of Jacob Communications, Inc. is governed by specific terms and conditions outlined in the plan document. It establishes eligibility requirements, grant guidelines, vesting schedules, and other important provisions. These provisions aim to ensure fairness, transparency, and alignment with company goals. Key features of the Ohio Nonemployee Directors Stock Plan include: 1. Eligibility: This program is available exclusively to nonemployee directors of Jacob Communications, Inc. Employees of the company are typically not eligible for participation. 2. Grants and Vesting: Nonemployee directors may be granted stock options or RSS upon appointment or at regular intervals. These awards usually vest over a specific period, often subject to continued service or performance goals. 3. Exercise or Settlement: Once vested, stock options can be exercised by directors to purchase Jacob Communications' stock. RSS, upon vesting, are typically settled in shares of the company's common stock. 4. Exercise Price: The exercise price for stock options is determined at the time of grant and is usually based on the fair market value of Jacob Communications' stock on that date. 5. Term and Termination: The plan specifies the duration or term during which stock options can be exercised. It further outlines the treatment of equity awards in case of a director's death, disability, retirement, or termination. By introducing the Ohio Nonemployee Directors Stock Plan, Jacob Communications, Inc. aims to incentivize nonemployee directors to contribute their expertise, judgment, and commitment to the company's strategic objectives. This compensation program enhances alignment between directors and shareholders, driving long-term sustainable growth and shareholder value.