Tennessee 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 Tennessee Employee Stock Option Plan of Vivien, Inc. is a program designed to provide incentives and rewards to employees by offering them the opportunity to purchase company stock at a predetermined price. This plan aims to align the interests of employees with the company's goals, encourages loyalty, and motivates employees to contribute to the organization's success. Under the Tennessee Employee Stock Option Plan of Vivien, Inc., employees are granted the right to purchase a specific number of company shares at a specified exercise price, usually below the market value. These stock options may be granted as part of an employee's compensation package or as a performance-based reward. There are different types of Tennessee Employee Stock Option Plans offered by Vivien, Inc. to cater to the varying needs and positions of employees. These plans include: 1. Non-Qualified Stock Options (Nests): These are the most common type of stock option plan, offered to employees at all levels. Nests allow employees to purchase company stock at a predetermined price within a specific timeframe. Employees benefit from any increase in the stock price above the exercise price, providing them with potential capital gains. 2. Incentive Stock Options (SOS): SOS are typically reserved for key employees and carry more favorable tax treatment. Employees who exercise SOS may qualify for long-term capital gains tax rates upon selling the stocks, subject to certain holding period requirements and limitations. 3. Restricted Stock Units (RSS): RSS represent a promise to deliver company stock to employees at a future date. They are granted as part of compensation packages and vest over a specific period of time or upon achieving certain performance-based milestones. Upon vesting, employees receive shares of company stock or their cash equivalent. 4. Employee Stock Purchase Plans (ESPN): ESPN are offered to all employees and provide an opportunity to purchase company stock at a discounted price. Usually, employees can contribute a percentage of their salary, which is used to make regular stock purchases on predetermined dates. This type of plan encourages broad-based employee ownership. The Tennessee Employee Stock Option Plan of Vivien, Inc. grants eligible employees the ability to participate in one or more of these programs. The specific terms and conditions of these plans may vary depending on an employee's position, tenure, and performance. Eligible employees should consult the plan documents, company policies, and financial advisors to fully understand the benefits and implications of participating in these programs.

The Tennessee Employee Stock Option Plan of Vivien, Inc. is a program designed to provide incentives and rewards to employees by offering them the opportunity to purchase company stock at a predetermined price. This plan aims to align the interests of employees with the company's goals, encourages loyalty, and motivates employees to contribute to the organization's success. Under the Tennessee Employee Stock Option Plan of Vivien, Inc., employees are granted the right to purchase a specific number of company shares at a specified exercise price, usually below the market value. These stock options may be granted as part of an employee's compensation package or as a performance-based reward. There are different types of Tennessee Employee Stock Option Plans offered by Vivien, Inc. to cater to the varying needs and positions of employees. These plans include: 1. Non-Qualified Stock Options (Nests): These are the most common type of stock option plan, offered to employees at all levels. Nests allow employees to purchase company stock at a predetermined price within a specific timeframe. Employees benefit from any increase in the stock price above the exercise price, providing them with potential capital gains. 2. Incentive Stock Options (SOS): SOS are typically reserved for key employees and carry more favorable tax treatment. Employees who exercise SOS may qualify for long-term capital gains tax rates upon selling the stocks, subject to certain holding period requirements and limitations. 3. Restricted Stock Units (RSS): RSS represent a promise to deliver company stock to employees at a future date. They are granted as part of compensation packages and vest over a specific period of time or upon achieving certain performance-based milestones. Upon vesting, employees receive shares of company stock or their cash equivalent. 4. Employee Stock Purchase Plans (ESPN): ESPN are offered to all employees and provide an opportunity to purchase company stock at a discounted price. Usually, employees can contribute a percentage of their salary, which is used to make regular stock purchases on predetermined dates. This type of plan encourages broad-based employee ownership. The Tennessee Employee Stock Option Plan of Vivien, Inc. grants eligible employees the ability to participate in one or more of these programs. The specific terms and conditions of these plans may vary depending on an employee's position, tenure, and performance. Eligible employees should consult the plan documents, company policies, and financial advisors to fully understand the benefits and implications of participating in these programs.