Cook Illinois Employee Stock Option Plan of Vivigen, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Cook
• 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 Cook Illinois Employee Stock Option Plan (ESOP) of Vivien, Inc. is a comprehensive employee benefit plan that offers eligible employees the opportunity to purchase shares of the company's stock at a discounted price. This plan serves as a valuable tool to attract and retain talented employees by providing them with a stake in the company's success. Under this ESOP, Vivien, Inc. sets aside a certain percentage of its shares to be allocated among eligible employees. These shares are then offered as stock options, allowing employees to acquire ownership in the company. By offering a stock option plan, Vivien, Inc. aims to align the interests of its employees with the overall growth and profitability of the organization. The Cook Illinois Employee Stock Option Plan of Vivien, Inc. has various types based on eligibility criteria and vesting schedules. The plan may include: 1. Standard Stock Option: This type of stock option offers eligible employees the opportunity to purchase shares of Vivien, Inc. stock at a predetermined price within a specific timeframe. These options typically have a vesting period, meaning employees must remain with the company for a certain period before exercising their options. 2. Incentive Stock Option (ISO): SOS are designed to provide tax advantages to eligible employees. These options may have special tax treatment, allowing employees to potentially defer capital gains taxes until they sell the acquired shares. 3. Non-Qualified Stock Option (NO): SOS are stock options that don't qualify for the favorable tax treatment of SOS. While they offer employees the ability to purchase company stock at a discounted price, the gain is typically subject to ordinary income tax rates. 4. Restricted Stock Units (RSS): RSS represent a promise to deliver shares of Vivien, Inc. stock to eligible employees at a future date. They often require employees to meet certain performance or time-based conditions before they can access the stock. The Cook Illinois Employee Stock Option Plan of Vivien, Inc. is a valuable benefit program that incentivizes and rewards employees for their dedication and contributions to the company's growth. By providing employees with the opportunity to become shareholders, Vivien, Inc. fosters a shared sense of ownership and commitment to the company's long-term success.

The Cook Illinois Employee Stock Option Plan (ESOP) of Vivien, Inc. is a comprehensive employee benefit plan that offers eligible employees the opportunity to purchase shares of the company's stock at a discounted price. This plan serves as a valuable tool to attract and retain talented employees by providing them with a stake in the company's success. Under this ESOP, Vivien, Inc. sets aside a certain percentage of its shares to be allocated among eligible employees. These shares are then offered as stock options, allowing employees to acquire ownership in the company. By offering a stock option plan, Vivien, Inc. aims to align the interests of its employees with the overall growth and profitability of the organization. The Cook Illinois Employee Stock Option Plan of Vivien, Inc. has various types based on eligibility criteria and vesting schedules. The plan may include: 1. Standard Stock Option: This type of stock option offers eligible employees the opportunity to purchase shares of Vivien, Inc. stock at a predetermined price within a specific timeframe. These options typically have a vesting period, meaning employees must remain with the company for a certain period before exercising their options. 2. Incentive Stock Option (ISO): SOS are designed to provide tax advantages to eligible employees. These options may have special tax treatment, allowing employees to potentially defer capital gains taxes until they sell the acquired shares. 3. Non-Qualified Stock Option (NO): SOS are stock options that don't qualify for the favorable tax treatment of SOS. While they offer employees the ability to purchase company stock at a discounted price, the gain is typically subject to ordinary income tax rates. 4. Restricted Stock Units (RSS): RSS represent a promise to deliver shares of Vivien, Inc. stock to eligible employees at a future date. They often require employees to meet certain performance or time-based conditions before they can access the stock. The Cook Illinois Employee Stock Option Plan of Vivien, Inc. is a valuable benefit program that incentivizes and rewards employees for their dedication and contributions to the company's growth. By providing employees with the opportunity to become shareholders, Vivien, Inc. fosters a shared sense of ownership and commitment to the company's long-term success.