Texas 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 Texas Employee Stock Option Plan of Vivien, Inc. is a comprehensive employee benefit program offered by the company to its employees in the state of Texas. This plan aims to reward and incentivize employees by providing them with the opportunity to own a share in the company and participate in its growth and success. The plan offers various types of stock options, enabling employees to acquire Vivien, Inc. shares at a predetermined price within a specified time period. The primary type of stock options offered under the Texas Employee Stock Option Plan includes: 1. Non-Qualified Stock Options (SOS): Vivien, Inc. grants SOS to employees that do not meet specific tax requirements set by the Internal Revenue Service (IRS). SOS offer the flexibility of setting exercise prices at or above the current market value of the company's stock. This allows employees to potentially profit from the difference between the exercise price and the market price when they exercise their options. 2. Incentive Stock Options (SOS): SOS are another type of stock option available to eligible employees under the Texas Employee Stock Option Plan. SOS have specific tax advantages if certain requirements are met, such as holding the shares for a certain period of time. The exercise price of SOS must be at least equal to the fair market value of the company's stock on the date of grant. 3. Restricted Stock Units (RSS): Vivien, Inc. may also offer RSS as part of its employee stock option plan. RSS provide employees with the right to receive company stock at a predetermined future date, often subject to performance-based or time-based vesting conditions. Once the vesting criteria are met, employees receive the shares without any purchase requirement. 4. Performance Stock Units (Plus): This type of stock option is performance-based and granted to employees based on specific performance goals outlined by Vivien, Inc. Plus offer employees the opportunity to receive shares if certain performance metrics, such as revenue targets or stock price goals, are achieved. The number of shares granted depends on the level of goal attainment, providing employees with additional motivation to contribute towards the company's success. By implementing the Texas Employee Stock Option Plan, Vivien, Inc. aims to align employee interests with the company's performance, fostering increased dedication, commitment, and productivity. Employees who participate in the plan have the opportunity to share in the growth and financial success of Vivien, Inc., as well as potentially benefit from favorable tax treatment associated with certain stock options.

Texas Employee Stock Option Plan of Vivien, Inc. is a comprehensive employee benefit program offered by the company to its employees in the state of Texas. This plan aims to reward and incentivize employees by providing them with the opportunity to own a share in the company and participate in its growth and success. The plan offers various types of stock options, enabling employees to acquire Vivien, Inc. shares at a predetermined price within a specified time period. The primary type of stock options offered under the Texas Employee Stock Option Plan includes: 1. Non-Qualified Stock Options (SOS): Vivien, Inc. grants SOS to employees that do not meet specific tax requirements set by the Internal Revenue Service (IRS). SOS offer the flexibility of setting exercise prices at or above the current market value of the company's stock. This allows employees to potentially profit from the difference between the exercise price and the market price when they exercise their options. 2. Incentive Stock Options (SOS): SOS are another type of stock option available to eligible employees under the Texas Employee Stock Option Plan. SOS have specific tax advantages if certain requirements are met, such as holding the shares for a certain period of time. The exercise price of SOS must be at least equal to the fair market value of the company's stock on the date of grant. 3. Restricted Stock Units (RSS): Vivien, Inc. may also offer RSS as part of its employee stock option plan. RSS provide employees with the right to receive company stock at a predetermined future date, often subject to performance-based or time-based vesting conditions. Once the vesting criteria are met, employees receive the shares without any purchase requirement. 4. Performance Stock Units (Plus): This type of stock option is performance-based and granted to employees based on specific performance goals outlined by Vivien, Inc. Plus offer employees the opportunity to receive shares if certain performance metrics, such as revenue targets or stock price goals, are achieved. The number of shares granted depends on the level of goal attainment, providing employees with additional motivation to contribute towards the company's success. By implementing the Texas Employee Stock Option Plan, Vivien, Inc. aims to align employee interests with the company's performance, fostering increased dedication, commitment, and productivity. Employees who participate in the plan have the opportunity to share in the growth and financial success of Vivien, Inc., as well as potentially benefit from favorable tax treatment associated with certain stock options.