Virgin Islands 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 Virgin Islands Employee Stock Option Plan is an integral part of the employee compensation package at Vivien, Inc., a prominent company operating in the beautiful Virgin Islands. This plan serves as a motivational tool, providing employees with the opportunity to purchase company shares at a predetermined price within specific timeframes. As a testament to Vivien's commitment to its employees' long-term financial goals, the Virgin Islands Employee Stock Option Plan offers various types of stock options, tailored to meet the diverse needs and preferences of the workforce. These options include: 1. Non-Qualified Stock Options (Nests): Nests grant employees the right to purchase a specific number of company shares at a predetermined price, typically below the market value, within a defined exercise period. This flexibility empowers employees to capitalize on future growth potential and benefit from potential stock price appreciation. 2. Incentive Stock Options (SOS): SOS are another type of option provided under the Virgin Islands Employee Stock Option Plan. These options are typically granted to key employees and executives, encouraging them to contribute to the long-term success of Vivien. SOS offer certain tax advantages, as qualifying employees may benefit from capital gains tax rates when exercising their options. 3. Restricted Stock Units (RSS): While not technically stock options, RSS are another component of the Virgin Islands Employee Stock Option Plan. RSS are typically awarded to employees as a form of restricted stock that fully vests over a specified period. Once vested, employees receive shares equivalent to the value of the units, providing an additional opportunity to build wealth over time. 4. Performance Stock Units (Plus): Plus are performance-based stock awards granted to employees under specific predetermined performance criteria. The Virgin Islands Employee Stock Option Plan may include Plus, rewarding employees based on the company's performance metrics. These units convert into company shares once the performance criteria are met, offering employees the opportunity to share in Vivien's success. Participation in the Virgin Islands Employee Stock Option Plan not only aligns the interests of employees with the company's overall performance but also fosters a sense of ownership and loyalty. It motivates employees to contribute to the company's growth and success, knowing that their hard work directly impacts their financial future. At Vivien, Inc., the Virgin Islands Employee Stock Option Plan is a valuable benefit, empowering employees to become true stakeholders in the company's ongoing journey towards success. It serves as a powerful tool for attracting, retaining, and rewarding top talent, while simultaneously strengthening the overall stability and growth of the organization.

The Virgin Islands Employee Stock Option Plan is an integral part of the employee compensation package at Vivien, Inc., a prominent company operating in the beautiful Virgin Islands. This plan serves as a motivational tool, providing employees with the opportunity to purchase company shares at a predetermined price within specific timeframes. As a testament to Vivien's commitment to its employees' long-term financial goals, the Virgin Islands Employee Stock Option Plan offers various types of stock options, tailored to meet the diverse needs and preferences of the workforce. These options include: 1. Non-Qualified Stock Options (Nests): Nests grant employees the right to purchase a specific number of company shares at a predetermined price, typically below the market value, within a defined exercise period. This flexibility empowers employees to capitalize on future growth potential and benefit from potential stock price appreciation. 2. Incentive Stock Options (SOS): SOS are another type of option provided under the Virgin Islands Employee Stock Option Plan. These options are typically granted to key employees and executives, encouraging them to contribute to the long-term success of Vivien. SOS offer certain tax advantages, as qualifying employees may benefit from capital gains tax rates when exercising their options. 3. Restricted Stock Units (RSS): While not technically stock options, RSS are another component of the Virgin Islands Employee Stock Option Plan. RSS are typically awarded to employees as a form of restricted stock that fully vests over a specified period. Once vested, employees receive shares equivalent to the value of the units, providing an additional opportunity to build wealth over time. 4. Performance Stock Units (Plus): Plus are performance-based stock awards granted to employees under specific predetermined performance criteria. The Virgin Islands Employee Stock Option Plan may include Plus, rewarding employees based on the company's performance metrics. These units convert into company shares once the performance criteria are met, offering employees the opportunity to share in Vivien's success. Participation in the Virgin Islands Employee Stock Option Plan not only aligns the interests of employees with the company's overall performance but also fosters a sense of ownership and loyalty. It motivates employees to contribute to the company's growth and success, knowing that their hard work directly impacts their financial future. At Vivien, Inc., the Virgin Islands Employee Stock Option Plan is a valuable benefit, empowering employees to become true stakeholders in the company's ongoing journey towards success. It serves as a powerful tool for attracting, retaining, and rewarding top talent, while simultaneously strengthening the overall stability and growth of the organization.