Harris Texas Employee Stock Option Plan of Vivigen, Inc.

• Category: Corporations - Public - Stock Options
• State: Multi-State
• County: Harris
• 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 Harris Texas Employee Stock Option Plan of Vivien, Inc. is an employee benefit program offered by the company to incentivize and reward its employees. This plan allows eligible employees to acquire ownership in the company by purchasing stock options at a predetermined price. The Vivien, Inc. Employee Stock Option Plan aims to motivate and retain talented individuals by providing them with the opportunity to share in the company's success. By granting stock options, employees have the chance to benefit financially as the stock price appreciates over time. There may be different types of Harris Texas Employee Stock Option Plans, depending on the specific terms and conditions set by Vivien, Inc. Some variations of these plans may include: 1. Vesting Schedule: The stock options granted to employees may have a vesting schedule, which means that the employees gain ownership rights over a certain period of time. This encourages long-term commitment and loyalty to the company. 2. Exercise Price: The exercise price, also known as the strike price, is the amount at which employees can purchase company stock. This price is usually set at a discount or market value to provide an incentive for employees to participate in the program. 3. Expiration Date: Stock options usually have an expiration date, which denotes the period within which the employees must exercise their options. This ensures timely decision-making and prevents the options from becoming obsolete. 4. Stock Option Grants: The plan may provide different grants of stock options to employees based on their level of employment, performance, or years of service. This can include grants for executives, top-performing employees, or employees who have been with the company for a certain number of years. 5. Tax Implications: It is important for employees to understand the tax implications of participating in the Harris Texas Employee Stock Option Plan. Depending on the jurisdiction and specific plan rules, employees may be subject to taxes upon exercise or sale of the stock options. Seeking professional advice can help employees navigate these complexities. In summary, the Harris Texas Employee Stock Option Plan offered by Vivien, Inc. serves as a valuable tool to attract, motivate, and retain talented employees. This plan allows eligible employees to purchase company stock at a predetermined price, providing them with an opportunity to benefit from the company's growth and success. The plan may include various types such as vesting schedules, exercise prices, expiration dates, stock option grants, and tax implications.

The Harris Texas Employee Stock Option Plan of Vivien, Inc. is an employee benefit program offered by the company to incentivize and reward its employees. This plan allows eligible employees to acquire ownership in the company by purchasing stock options at a predetermined price. The Vivien, Inc. Employee Stock Option Plan aims to motivate and retain talented individuals by providing them with the opportunity to share in the company's success. By granting stock options, employees have the chance to benefit financially as the stock price appreciates over time. There may be different types of Harris Texas Employee Stock Option Plans, depending on the specific terms and conditions set by Vivien, Inc. Some variations of these plans may include: 1. Vesting Schedule: The stock options granted to employees may have a vesting schedule, which means that the employees gain ownership rights over a certain period of time. This encourages long-term commitment and loyalty to the company. 2. Exercise Price: The exercise price, also known as the strike price, is the amount at which employees can purchase company stock. This price is usually set at a discount or market value to provide an incentive for employees to participate in the program. 3. Expiration Date: Stock options usually have an expiration date, which denotes the period within which the employees must exercise their options. This ensures timely decision-making and prevents the options from becoming obsolete. 4. Stock Option Grants: The plan may provide different grants of stock options to employees based on their level of employment, performance, or years of service. This can include grants for executives, top-performing employees, or employees who have been with the company for a certain number of years. 5. Tax Implications: It is important for employees to understand the tax implications of participating in the Harris Texas Employee Stock Option Plan. Depending on the jurisdiction and specific plan rules, employees may be subject to taxes upon exercise or sale of the stock options. Seeking professional advice can help employees navigate these complexities. In summary, the Harris Texas Employee Stock Option Plan offered by Vivien, Inc. serves as a valuable tool to attract, motivate, and retain talented employees. This plan allows eligible employees to purchase company stock at a predetermined price, providing them with an opportunity to benefit from the company's growth and success. The plan may include various types such as vesting schedules, exercise prices, expiration dates, stock option grants, and tax implications.