Tennessee Eligible Directors' Stock Option Plan of Wyle Electronics

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-362C
• Format: Word; Rich Text

Description

18-362C 18-362C . . . Eligible Directors' Stock Option Plan under which (a) each outside director who was in office on October 1, 1996 was granted, subject to stockholder approval of Plan, option to purchase 4,000 shares of stock and each outside director who first takes office after October 1, 1996 will receive a one-time initial option to purchase 10,000 shares of stock, and (b) each outside director in office on October 1, 1996 will be granted an option on April 1 of each year commencing in 1997 to purchase 4,000 shares of stock provided he or she is in office on date of grant, and each outside director who takes office after October 1, 1996 will be granted an option on April 1 of each year to purchase 6,000 shares of stock provided he or she is in office on date of grant. Exercise price of all options is fair market value on date of grant. All options are exercisable six months after date of grant The Tennessee Eligible Directors' Stock Option Plan is a comprehensive program established by Kyle Electronics to provide its eligible directors with the opportunity to purchase company shares at a predetermined price. This plan aims to align the interests of directors with those of shareholders, promoting participation, and ensuring the prosperity of the company. Under this plan, eligible directors of Kyle Electronics are granted stock options, allowing them to purchase a specific number of company shares within a specified time frame. The stock options are usually granted at the market price of the company's common stock on the date of the grant. The Tennessee Eligible Directors' Stock Option Plan offers different types of stock options to accommodate the diverse needs and preferences of directors. Some notable variations of this plan include: 1. Non-qualified Stock Options: These options provide directors with flexibility over the exercise of their stock options. Directors can choose to exercise the options at any time, subject to the terms and conditions of the plan. 2. Incentive Stock Options: This type of stock option plan provides potential tax advantages to the directors. If certain criteria are met, directors can enjoy favorable tax treatment upon the exercise and sale of the stock options. 3. Restricted Stock Units (RSS): In addition to stock options, Kyle Electronics may also offer RSS as part of the Eligible Directors' Stock Option Plan. RSS grant the director the right to receive shares of company stock at a predetermined future date, usually after a vesting period. 4. Performance-Based Stock Options: To encourage exceptional performance, Kyle Electronics may also include performance criteria as a factor in determining the number of stock options granted to directors. This allows directors to benefit from the company's success linked to predefined performance goals. The Tennessee Eligible Directors' Stock Option Plan is subject to compliance with applicable laws, regulations, and corporate governance principles. The plan's terms and conditions, including vesting schedules, exercise prices, and maximum duration, will be outlined in official plan documents provided to eligible directors. By implementing this Stock Option Plan, Kyle Electronics aims to attract and retain top-level directors, fostering their commitment and dedication to the company's long-term success. Through the plan, directors have the opportunity to participate in the growth and financial success of Kyle Electronics, further aligning their interests with the company and its shareholders.

The Tennessee Eligible Directors' Stock Option Plan is a comprehensive program established by Kyle Electronics to provide its eligible directors with the opportunity to purchase company shares at a predetermined price. This plan aims to align the interests of directors with those of shareholders, promoting participation, and ensuring the prosperity of the company. Under this plan, eligible directors of Kyle Electronics are granted stock options, allowing them to purchase a specific number of company shares within a specified time frame. The stock options are usually granted at the market price of the company's common stock on the date of the grant. The Tennessee Eligible Directors' Stock Option Plan offers different types of stock options to accommodate the diverse needs and preferences of directors. Some notable variations of this plan include: 1. Non-qualified Stock Options: These options provide directors with flexibility over the exercise of their stock options. Directors can choose to exercise the options at any time, subject to the terms and conditions of the plan. 2. Incentive Stock Options: This type of stock option plan provides potential tax advantages to the directors. If certain criteria are met, directors can enjoy favorable tax treatment upon the exercise and sale of the stock options. 3. Restricted Stock Units (RSS): In addition to stock options, Kyle Electronics may also offer RSS as part of the Eligible Directors' Stock Option Plan. RSS grant the director the right to receive shares of company stock at a predetermined future date, usually after a vesting period. 4. Performance-Based Stock Options: To encourage exceptional performance, Kyle Electronics may also include performance criteria as a factor in determining the number of stock options granted to directors. This allows directors to benefit from the company's success linked to predefined performance goals. The Tennessee Eligible Directors' Stock Option Plan is subject to compliance with applicable laws, regulations, and corporate governance principles. The plan's terms and conditions, including vesting schedules, exercise prices, and maximum duration, will be outlined in official plan documents provided to eligible directors. By implementing this Stock Option Plan, Kyle Electronics aims to attract and retain top-level directors, fostering their commitment and dedication to the company's long-term success. Through the plan, directors have the opportunity to participate in the growth and financial success of Kyle Electronics, further aligning their interests with the company and its shareholders.