Oklahoma Stock Option Agreement between Northern Bank of Commerce and Cowlitz Bancorporation

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-EG-9341
• Format: Word; Rich Text

Description

Stock Option Agreement between Northern Bank of Commerce and Cowlitz Bancorporation dated September 14, 1999. 26 pages. Oklahoma Stock Option Agreement between Northern Bank of Commerce and Cowling Ban corporation is a legally binding contract that outlines the terms and conditions under which Cowling Ban corporation, a financial institution based in Oklahoma, grants Northern Bank of Commerce the option to purchase a specific number of shares of its common stock at a predetermined price within a specified timeframe. Key terms and provisions included in this agreement may cover: 1. Grant of Stock Options: This section describes the number of stock options being granted to Northern Bank of Commerce, the exercise price, and the expiration date of the options. 2. Option Exercise: Specifies the conditions and procedures for exercising the stock options, including notice requirements, payment methods, and any restrictions or limitations imposed by Cowling Ban corporation. 3. Vesting Schedule: Outlines the schedule or criteria upon which the stock options become vested, meaning Northern Bank of Commerce obtains full ownership rights over the options. 4. Repurchase Rights: Describes any rights held by Cowling Ban corporation to repurchase the stock options or the underlying shares under certain circumstances, such as termination of employment or breach of contract. 5. Termination: Explains the circumstances under which the stock option agreement can be terminated, including early termination, expiration, or exercise of all options. 6. Governing Law and Jurisdiction: Specifies that the agreement is subject to Oklahoma state laws and any disputes arising from the agreement will be resolved within the state's jurisdiction. Different types of Oklahoma Stock Option Agreements between Northern Bank of Commerce and Cowling Ban corporation may include: 1. Incentive Stock Option Agreement (ISO): If the stock options granted to Northern Bank of Commerce meet specific requirements outlined by the Internal Revenue Service (IRS), they may qualify for favorable tax treatment as incentive stock options. 2. Non-Qualified Stock Option Agreement (NO): If the stock options granted do not meet the IRS requirements for SOS, they are considered non-qualified stock options and may be subject to different tax regulations. These are some main aspects to consider in an Oklahoma Stock Option Agreement between Northern Bank of Commerce and Cowling Ban corporation. It is essential for both parties to carefully review and understand the terms and conditions before entering into such an agreement to ensure compliance and protect their respective interests.

Oklahoma Stock Option Agreement between Northern Bank of Commerce and Cowling Ban corporation is a legally binding contract that outlines the terms and conditions under which Cowling Ban corporation, a financial institution based in Oklahoma, grants Northern Bank of Commerce the option to purchase a specific number of shares of its common stock at a predetermined price within a specified timeframe. Key terms and provisions included in this agreement may cover: 1. Grant of Stock Options: This section describes the number of stock options being granted to Northern Bank of Commerce, the exercise price, and the expiration date of the options. 2. Option Exercise: Specifies the conditions and procedures for exercising the stock options, including notice requirements, payment methods, and any restrictions or limitations imposed by Cowling Ban corporation. 3. Vesting Schedule: Outlines the schedule or criteria upon which the stock options become vested, meaning Northern Bank of Commerce obtains full ownership rights over the options. 4. Repurchase Rights: Describes any rights held by Cowling Ban corporation to repurchase the stock options or the underlying shares under certain circumstances, such as termination of employment or breach of contract. 5. Termination: Explains the circumstances under which the stock option agreement can be terminated, including early termination, expiration, or exercise of all options. 6. Governing Law and Jurisdiction: Specifies that the agreement is subject to Oklahoma state laws and any disputes arising from the agreement will be resolved within the state's jurisdiction. Different types of Oklahoma Stock Option Agreements between Northern Bank of Commerce and Cowling Ban corporation may include: 1. Incentive Stock Option Agreement (ISO): If the stock options granted to Northern Bank of Commerce meet specific requirements outlined by the Internal Revenue Service (IRS), they may qualify for favorable tax treatment as incentive stock options. 2. Non-Qualified Stock Option Agreement (NO): If the stock options granted do not meet the IRS requirements for SOS, they are considered non-qualified stock options and may be subject to different tax regulations. These are some main aspects to consider in an Oklahoma Stock Option Agreement between Northern Bank of Commerce and Cowling Ban corporation. It is essential for both parties to carefully review and understand the terms and conditions before entering into such an agreement to ensure compliance and protect their respective interests.