The West Virginia Amended and Restated Stock Option Plan of L. Luria and Son, Inc. is a comprehensive employee benefit plan that provides eligible employees of the company with the opportunity to purchase company stock at a predetermined price. This plan is designed to incentivize employees and align their interests with the long-term success of the company. Under the West Virginia Amended and Restated Stock Option Plan, there are several types of stock options available to employees: 1. Non-Qualified Stock Options: These options provide employees with the ability to purchase company stock at a specified price, known as the exercise price. Employees can exercise these options after a certain predetermined vesting period, at which point they can buy the stock at the exercise price, potentially realizing a profit if the stock's market value has increased. 2. Incentive Stock Options: This type of stock option is available to key employees and provides certain tax advantages. Incentive Stock Options typically have more stringent rules regarding eligibility, holding periods, and exercise within a specific time frame. 3. Performance-Based Stock Options: These options are granted to employees based on the achievement of specific performance goals or metrics. The performance targets could include reaching revenue targets, productivity goals, or other predetermined objectives. 4. Restricted Stock Units (RSS): RSS are a form of equity compensation where employees receive shares of company stock as a grant or a bonus. These units typically vest over time and may be subject to certain restrictions or performance metrics. The West Virginia Amended and Restated Stock Option Plan of L. Luria and Son, Inc. allows employees to participate in the company's growth and success by acquiring company stock at a potentially discounted price. It strengthens employee engagement, boosts morale, and aligns their interests with the overall corporate strategy. This plan is an essential tool for attracting and retaining top talent, as well as motivating employees to work towards the long-term success of the organization.
West Virginia Amended and Restated Stock Option Plan of L. Luria and Son, Inc.
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