West Virginia Stock Option Agreement of Full House Resorts, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-363D
• Format: Word; Rich Text

Description

18-363D 18-363D . . . Stock Option Agreement under which corporation grants to optionee a Non-qualified Option to acquire 50,000 shares of stock immediately and an additional 50,000 shares on each of the next four anniversaries of the date of grant. The options become fully exercisable upon a change of control and they expire 5 years from the date of grant or 90 days after the optionee ceases to be a director The West Virginia Stock Option Agreement of Full House Resorts, Inc. is a legal document that outlines the terms and conditions under which stock options are granted to employees of Full House Resorts, Inc. in the state of West Virginia. This agreement enables eligible employees to purchase a specified number of company stocks at a predetermined price, within a defined timeframe. The West Virginia Stock Option Agreement serves as a vital component of Full House Resorts, Inc.'s compensation package, designed to reward and retain talented individuals within the organization. It provides employees with the opportunity to share in the company's success and growth, as their stock options gain value over time. This agreement typically includes various key provisions, such as the grant date, vesting schedule, exercise price, expiration date, and terms in case of termination or change of employment status. It outlines the rights and obligations of both the employee and Full House Resorts, Inc., ensuring transparency and clarity regarding stock option benefits. Different types of West Virginia Stock Option Agreements offered by Full House Resorts, Inc. may include: 1. Incentive Stock Options (SOS): These stock options qualify for favorable tax treatment if specific criteria outlined by the Internal Revenue Service (IRS) are met. SOS are typically granted to employees as a long-term incentive, encouraging them to remain with the company. 2. Non-Qualified Stock Options (Nests): Unlike SOS, Nests do not meet the IRS requirements for favorable tax treatment. However, they offer more flexibility in terms of granting options to employees, including greater control over exercise price and vesting schedules. Nests are often used when granting stock options to non-executive employees. 3. Restricted Stock Units (RSS): Although technically not stock options, RSS are another type of equity incentive. RSS grant employees the right to receive shares of the company's stock at a future date, typically upon vesting. They are often subject to specific performance-based conditions before employees can fully exercise their rights. Overall, the West Virginia Stock Option Agreement of Full House Resorts, Inc. provides a mechanism for attracting, motivating, and rewarding employees through equity participation. By giving employees an opportunity to become shareholders, Full House Resorts, Inc. aligns their interests with those of the company, fostering a sense of ownership and dedication within its workforce.

The West Virginia Stock Option Agreement of Full House Resorts, Inc. is a legal document that outlines the terms and conditions under which stock options are granted to employees of Full House Resorts, Inc. in the state of West Virginia. This agreement enables eligible employees to purchase a specified number of company stocks at a predetermined price, within a defined timeframe. The West Virginia Stock Option Agreement serves as a vital component of Full House Resorts, Inc.'s compensation package, designed to reward and retain talented individuals within the organization. It provides employees with the opportunity to share in the company's success and growth, as their stock options gain value over time. This agreement typically includes various key provisions, such as the grant date, vesting schedule, exercise price, expiration date, and terms in case of termination or change of employment status. It outlines the rights and obligations of both the employee and Full House Resorts, Inc., ensuring transparency and clarity regarding stock option benefits. Different types of West Virginia Stock Option Agreements offered by Full House Resorts, Inc. may include: 1. Incentive Stock Options (SOS): These stock options qualify for favorable tax treatment if specific criteria outlined by the Internal Revenue Service (IRS) are met. SOS are typically granted to employees as a long-term incentive, encouraging them to remain with the company. 2. Non-Qualified Stock Options (Nests): Unlike SOS, Nests do not meet the IRS requirements for favorable tax treatment. However, they offer more flexibility in terms of granting options to employees, including greater control over exercise price and vesting schedules. Nests are often used when granting stock options to non-executive employees. 3. Restricted Stock Units (RSS): Although technically not stock options, RSS are another type of equity incentive. RSS grant employees the right to receive shares of the company's stock at a future date, typically upon vesting. They are often subject to specific performance-based conditions before employees can fully exercise their rights. Overall, the West Virginia Stock Option Agreement of Full House Resorts, Inc. provides a mechanism for attracting, motivating, and rewarding employees through equity participation. By giving employees an opportunity to become shareholders, Full House Resorts, Inc. aligns their interests with those of the company, fostering a sense of ownership and dedication within its workforce.