The Puerto Rico Stock Option Plan of Sunrise Assisted Living, Inc. is a comprehensive program designed to provide various types of stock options to employees, consultants, and advisers. The plan is specifically tailored to meet the specific needs and regulations of Puerto Rico. 1. Incentive Stock Options (SOS): This type of stock option is granted to employees as an incentive to promote loyalty and long-term commitment. SOS have significant tax advantages as they are subject to favorable tax treatment upon exercise and sale, provided certain requirements are met. The Puerto Rico Stock Option Plan offers ISO grants to eligible individuals, allowing them to purchase Sunrise Assisted Living stock at a predetermined price within a specified timeframe. 2. Nonqualified Stock Options (Nests): Unlike SOS, Nests are not subject to the same tax benefits or eligibility requirements. These stock options are more flexible and can be granted to employees, consultants, and advisers. Nests provide the opportunity to purchase Sunrise Assisted Living stock at a predetermined price, set at the discretion of the company or plan administrator. 3. Consultant and Adviser Stock Options: The Puerto Rico Stock Option Plan also accommodates the issuance of stock options specifically for consultants and advisers. This allows these individuals to have a vested interest in the company's success while providing an additional incentive for their services. These stock options can be structured as SOS or Nests, depending on the individual's role and agreement with Sunrise Assisted Living. The Puerto Rico Stock Option Plan of Sunrise Assisted Living, Inc. adheres to all relevant laws and regulations of Puerto Rico. It is designed to attract and retain talented individuals, align their interests with the company's performance, and promote a shared sense of ownership. The plan is administered by the designated administrators or committee, which ensures fairness, compliance, and proper distribution of stock options to eligible participants.
Puerto Rico Stock Option Plan of Sunrise Assisted Living, Inc., for grant of Incentive Stock Options and Nonqualified Stock Options to employees, consultants and advisers
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