Virginia 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 Virginia Employee Stock Option Plan (ESOP) of Vivien, Inc. is a comprehensive and employee-centered program designed to offer enticing benefits and incentives to the company's workforce. As a tech-driven company operating in the heart of Virginia, Vivien recognizes the significance of attracting and retaining top talent in an increasingly competitive market. Hence, the Virginia ESOP has been strategically devised to reward and motivate employees while aligning their interests with the long-term prosperity of the company. Under the Virginia ESOP, eligible employees are granted stock options, which provide them the opportunity to purchase a specified number of shares at a predetermined price. These options typically vest over a certain period, encouraging loyalty and commitment among employees. By offering stock options, Vivien aims to foster a sense of ownership and empowerment, ensuring that each employee has a vested interest in the company's success. The Virginia ESOP program at Vivien features different types of stock options to cater to employees' diverse needs and goals: 1. Standard Stock Options: These options allow employees to purchase company shares at a predetermined exercise price within a specified timeframe. As the company's stock value grows, employees can benefit from the appreciation in value, potentially securing substantial returns. 2. Incentive Stock Options (SOS): Vivien's Virginia ESOP also includes SOS, which provide certain tax advantages to eligible employees. SOS can be more tax-efficient and can potentially qualify for favorable capital gains treatment if specific holding periods and other requirements are met. 3. Restricted Stock Units (RSS): In addition to stock options, Vivien may offer RSS as part of its Virginia ESOP. RSS are grants of company shares that have predetermined vesting schedules. Once the RSS have vested, employees receive ownership of the shares outright. 4. Performance-Based Stock Options: Vivien may introduce performance-based stock options in the Virginia ESOP plan. These options are tied to specific performance goals or milestones set by the company. Employees who meet or exceed these targets can exercise their options to acquire company shares. 5. Employee Stock Purchase Plan (ESPN): The Virginia ESOP may also include an ESPN, allowing eligible employees to purchase company stock at a discounted price from their own salaries. This provides employees the opportunity to invest in the company's growth and potentially profit from the appreciation of the stock value. Overall, the Virginia Employee Stock Option Plan of Vivien, Inc. involves the issuance of various types of stock options, including standard options, SOS, RSS, performance-based options, and an ESPN. By offering these options, Vivien seeks to incentivize and reward its employees while fostering a shared sense of ownership, commitment, and alignment with the company's long-term success.

The Virginia Employee Stock Option Plan (ESOP) of Vivien, Inc. is a comprehensive and employee-centered program designed to offer enticing benefits and incentives to the company's workforce. As a tech-driven company operating in the heart of Virginia, Vivien recognizes the significance of attracting and retaining top talent in an increasingly competitive market. Hence, the Virginia ESOP has been strategically devised to reward and motivate employees while aligning their interests with the long-term prosperity of the company. Under the Virginia ESOP, eligible employees are granted stock options, which provide them the opportunity to purchase a specified number of shares at a predetermined price. These options typically vest over a certain period, encouraging loyalty and commitment among employees. By offering stock options, Vivien aims to foster a sense of ownership and empowerment, ensuring that each employee has a vested interest in the company's success. The Virginia ESOP program at Vivien features different types of stock options to cater to employees' diverse needs and goals: 1. Standard Stock Options: These options allow employees to purchase company shares at a predetermined exercise price within a specified timeframe. As the company's stock value grows, employees can benefit from the appreciation in value, potentially securing substantial returns. 2. Incentive Stock Options (SOS): Vivien's Virginia ESOP also includes SOS, which provide certain tax advantages to eligible employees. SOS can be more tax-efficient and can potentially qualify for favorable capital gains treatment if specific holding periods and other requirements are met. 3. Restricted Stock Units (RSS): In addition to stock options, Vivien may offer RSS as part of its Virginia ESOP. RSS are grants of company shares that have predetermined vesting schedules. Once the RSS have vested, employees receive ownership of the shares outright. 4. Performance-Based Stock Options: Vivien may introduce performance-based stock options in the Virginia ESOP plan. These options are tied to specific performance goals or milestones set by the company. Employees who meet or exceed these targets can exercise their options to acquire company shares. 5. Employee Stock Purchase Plan (ESPN): The Virginia ESOP may also include an ESPN, allowing eligible employees to purchase company stock at a discounted price from their own salaries. This provides employees the opportunity to invest in the company's growth and potentially profit from the appreciation of the stock value. Overall, the Virginia Employee Stock Option Plan of Vivien, Inc. involves the issuance of various types of stock options, including standard options, SOS, RSS, performance-based options, and an ESPN. By offering these options, Vivien seeks to incentivize and reward its employees while fostering a shared sense of ownership, commitment, and alignment with the company's long-term success.